Suppose consumers save 8 percent of their incomes. If the government collects 4 dollar in taxes from each taxpayer and invested it in infrastructure, total social investment will ________ per taxpayer.
A. increase by $ 4.32
B. increase by $3.68
C. increase by 32 cents
D. decrease by 64 cents
Answer: B
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As the quantity of labor employed by a firm decreases, labor's ________ increases
A) marginal cost B) value of marginal product C) marginal revenue D) average cost
A prisoner's dilemma is
A) stable. B) the best equilibrium possible. C) inefficient. D) efficient.
Sally's Salon sells haircuts in a perfectly competitive market. As the salon hires additional workers, the marginal revenue product of labor
a. rises whenever the marginal product of labor falls b. is equal to the market price of haircuts c. falls whenever the marginal product of labor falls d. varies only if the market price of haircuts varies e. remains constant
Figure (a) represents the domestic demand and supply of televisions. Suppose free trade is allowed and the current world price of televisions is P1 as shown in Figure (b). Now suppose the domestic government imposes a tariff increasing the domestic price to P2 in Figure (b). This tariff will cause
a. imports to fall from Q2 minus Q1 to Q4 minus Q3.
b. domestic producers to increase their production from Q1 to Q3.
c. domestic consumers to reduce their consumption from Q2 to Q4.
d. All of the above.