In the figure above, if no one owns the lake, what is the deadweight loss in the market?
A) $2,400 per month
B) $1,800 per month
C) $3,600 per month
D) zero
A
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Which of the following macroeconomic variables could not be used as a leading economic indicator?
A) Residential investment B) Employment C) The money supply D) Stock prices
Assuming that there are NO income taxes, if both autonomous taxes, and government expenditures were to rise by $100 million, we would expect equilibrium GDP to
A) rise by $100 million. B) rise, but by a multiple of $100 million. C) rise by less than $100 million. D) remain unaffected because leakages have changed by the same amount.
A 2005 U.S. Supreme Court ruling was considered very controversial because the justices cited international opinion regarding
a. human trafficking. b. undocumented immigrants. c. abortion. d. the death penalty.
A quota specifies the maximum amount of a good that is permitted into the country from abroad per unit of time.
Answer the following statement true (T) or false (F)