The above figure shows the market for rice in Japan. SDomestic represents the domestic supply curve, and Sworld represents the world supply curve. The smallest tariff necessary to completely eliminate imported rice is
A) $1 per unit.
B) $25 per unit.
C) $50 per unit.
D) Not enough information.
B
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If consumption increases by $9 when disposable income increases by $10, the marginal propensity to consume (mpc) equals:
A. 0.1. B. 1.0. C. 9.0. D. 0.9.
Between 1780 and 1805, five Northern states enacted emancipation laws. All of the following statements characterize these laws except:
a. The emancipation laws provided for freedom of newborn babies when they reached adulthood. b. The emancipation laws allowed owners to avoid freeing slaves by selling them to Southerners. c. The emancipation laws provided for government agencies that assisted newly-freed slaves. d. The emancipation laws indirectly compensated owners for the losses incurred by freeing slaves.
Tia earned $400 extra last month. She spent $200 of it on a new television. She saved the rest of the money. What is her marginal propensity to consume in this case?
a. 0.10 b. 0.50 c. 0.75 d. 2.0
Critics of the Fed’s unconventional policies in 2009 and 2010 argued that determining which financial institutions would be bailed out and which would be allowed to fail was a political decision that rightfully belonged to Congress.
Answer the following statement true (T) or false (F)