If the demand curve a firm faces shifts to the right, usually:
a. it would be impossible to tell whether the marginal revenue curve shifts.
b. the marginal revenue curve would shift to the left.
c. the marginal revenue curve would shift to the right.
d. the marginal revenue curve would not shift.
c
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If an increase in the price of good X leads to a decrease in the demand for good Y, then:
A. good X is a normal good and good Y is an inferior good. B. good X and good Y are complements. C. good X and good Y are normal goods. D. good X and good Y are substitutes.
A flat-rate tax structure is one:
a. whose marginal rate increases as income increases. b. whose average rate equals the marginal rate. c. that has graduated rates. d. whose marginal rate decreases as income increases.
If the social costs of an economic activity are $120 and the private costs are $75, then the external costs of the activity are ________, and market failure ________.
A. $45; occurs B. $195; occurs C. $195; does not occur D. $45; does not occur
Answer the following statements true (T) or false (F)
1) Refer to the given data. In 2008 Transylvania realized a $1 billion surplus on goods and services.
2) Refer to the given data. In 2008 Transylvania was a net recipient of transfers from the rest of the world.
3) Refer to the given data. Foreigners made a larger volume of asset purchases in Transylvania in 2008 than Transylvanians made asset purchases abroad.
4) Refer to the given data. Transylvania realized a financial and capital account deficit in 2008.
5) R