Refer to Figure 15-9. What is the difference between the monopoly's price and perfectly competitive industry's price?
A) The monopoly's price is higher by $3.50. B) The monopoly's price is higher by $13.
C) The monopoly's price is higher by $21. D) The monopoly's price is higher by $9.50.
B
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Assume that with existing tax and spending laws, government spending exceeds government tax revenues. To cover the resulting shortfall, the government must:
A) increase consumers' incomes. B) print more money. C) Borrow money in the financial markets. D) lower interest rates.
Which of the following countries would find it easiest to achieve rapid growth in per capita GDP?
a. United States b. United Kingdom c. France d. Mexico
The main idea behind supply-side tax cuts is that
a. tax cuts increase spending, which increases aggregate supply. b. some tax cuts can increase aggregate supply. c. people like lower taxes and will spend more if they get them. d. it is easier to shift aggregate supply than aggregate demand.
Which of the following situations would cause the statistical discrepancy to be $20 billion?
a. a current account balance of $380 billion and a financial account balance of $360 billion b. a current account balance of negative $400 billion and a financial account balance of $380 billion c. a current account balance of $100 billion and a financial account balance of negative $80 billion d. a current account balance of negative $50 billion and a financial account balance of $70 billion