Figure 7.1 shows a monopolist's demand curve. If the monopolist increases output from four to five units, what is its marginal revenue?
A. $16
B. $15
C. $3
D. -$1
Answer: D
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The Contract Labor Law, which was passed in 1864 and repealed in 1868,
a. authorized labor contracts made abroad between American companies and foreign workers. b. resulted in a large increase in European immigration to the U.S. c. was supported by American wage earners. d. authorized workers to strike and engage in collective bargaining.
Which of the following expansionary fiscal policy changes would be most favored by those economists who think that the government is too large and inefficient?
A. A $40 billion increase in government spending B. A $20 billion tax cut and $20 billion increase in government spending C. A $10 billion tax cut and $30 billion increase in government spending D. A $40 billion tax cut
When you paint the outside of your house, you not only enjoy a private benefit for yourself, but you also provide a(n) __________________ benefit.
Fill in the blank(s) with the appropriate word(s).
In evaluating tax policy it is important to view tax policy as being designed by a benevolent overseer
a. True b. False