Refer to Figure 7-2. The increase in domestic producer surplus as a result of the tariff is equal to
A) $11.25 million. B) $18 million. C) $32.5 million. D) $45 million.
A
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Once the copyright on a book expires,
A) only the first publisher to reissue the book can claim copyright of that author's words. B) any publisher can now claim copyright of that author's words. C) no publisher can claim copyright of that author's words, but the book can be reissued by any publisher. D) no publisher can claim copyright of that author's words because the book can never be reissued.
What is the largest component of GPDI?
A) residential fixed investment B) nonresidential fixed investment C) inventory investment D) consumer durables
Consider a world with three income earners. Individual A earns $20,000 and pays $1,000 in taxes. Individual B earns $50,000 and pays $5,000 in taxes. Individual C earns $100,000 and pays $2,000 in taxes
Which of the following best classifies the income tax system in this world? a. proportional b. progressive c. regressive d. none of the above
If workers always see inflation coming, and if they demand wage increases in advance so that inflation does not erode real wages, then the economy’s aggregate supply curve on the AD–AS diagram will
A. be a vertical line corresponding to potential GDP. B. be a horizontal line corresponding to potential GDP. C. slope downward. D. slope upward.