Fiscal policy is:
A. the decisions that affect the available money supply in the economy.
B. government decisions about the level of the interest rate in the economy.
C. government decisions about the level of taxation and public spending.
D. congressional budget office decisions.
Answer: C
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Which of the following is a difference between an English auction and a Dutch auction?
A) Bids are placed publicly in an English auction while bids are placed privately in a Dutch auction. B) The bidder who values the good the most wins in an English auction while the bidder who values the good the least wins in a Dutch auction. C) An English auction is an ascending price auction while a Dutch auction is a descending price auction. D) An English auction is a descending price auction while a Dutch auction is an ascending price auction.
Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000
What are the implicit costs of her business? A) $12,000 B) $30,000 C) $72,000 D) $86,000
Suppose that in the short run firms are making economic profit in a monopolistically competitive industry. Explain what will eventually happen in the long run
In your answer make sure to discuss demand, price and the relationship between price and average total cost.
According to the Heckscher-Ohlin (HO) model the source of comparative advantage is a country's
A) technology. B) advertising. C) factor endowments. D) Both A and C.