C) ran a deficit of approximately 10 percent of GDP.
A) redistribution of income from the rich to the poor and price controls to make sure that the prices of essential goods are low
B) a balanced federal budget and imposition of trade restrictions that will protect American businesses and assure jobs for all
C) regulation of markets and rapid expansion in the supply of money so people will be able to buy goods
D) protection of people and their property from aggressors and the provision of a few goods that are difficult to supply through markets
D) protection of people and their property from aggressors and the provision of a few goods that are difficult to supply through markets
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In the figure above, if the firm is regulated using an average cost pricing rule, the firm
A) avoids an economic loss, but produces less than the efficient quantity and creates a deadweight loss. B) incurs an economic loss, but produces the efficient quantity and creates a deadweight loss. C) avoids an economic loss, is able to produce the efficient quantity, and therefore avoids creating a deadweight loss. D) avoids an economic loss, produces the efficient quantity, and creates a deadweight loss. E) incurs an economic loss, produces the efficient quantity, and avoids creating a deadweight loss.
In foreign exchange markets, who demands dollars and who supplies dollars?
What will be an ideal response?
Vertical contracts that aim to decrease retailer prices typically
a. Benefit the consumer and the manufacturer but hurt the retailer b. Benefit the manufacturer and retailer but hurt the consumer c. Benefits the consumers, manufacturers and retailers d. Hurts all the manufacturers, consumers and retailers
If, due to rising demand, the price of cotton rose 15 percent while the prices of other goods and services rose an average of 10 percent,
a. the relative price of cotton has risen and one would expect the output of cotton to rise as a result. b. the relative price of cotton has risen and one would expect the output of cotton to fall as a result. c. the relative price of cotton has fallen and one would expect the output of cotton to rise as a result. d. the relative price of cotton has fallen and one would expect the output of cotton to fall as a result.