Economic goods are items that
A) are used only by economists.
B) provide satisfaction to users.
C) cannot be sold at any price in the market.
D) individuals would pay to get rid off.
B
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The "Buy American" provision in the 2009 stimulus package required that stimulus money be spent only on U.S.-made goods, effectively acting as a quota of zero imports when stimulus money was being spent. In the U.S
steel market, the "Buy American" provision in the 2009 stimulus package would A) reduce the producer surplus received by foreign manufacturers. B) transfer some deadweight loss to producer surplus. C) transfer some producer surplus to consumer surplus. D) convert some consumer surplus to deadweight loss.
In a two-country world, an increase in foreign input prices, ceteris paribus,
A) shifts the SRAS curve leftward, causing the price level to increase. B) shifts the SRAS curve leftward, causing the price level to decrease. C) shifts the SRAS curve rightward, causing the price level to increase. D) shifts the SRAS curve rightward, causing the price level to decrease. E) does not affect the SRAS curve or the price level.
A price-discriminating monopolist with two markets will equate
A) the prices of two markets. B) price and marginal revenue in each of the two markets. C) marginal revenue and marginal cost in each of the two markets. D) average revenue and marginal revenue between the two markets.
In the circular flow of income, both saving and net taxes flow into government.
Answer the following statement true (T) or false (F)