Positive analysis:
A. is the best way to analyze a policy.
B. leads to the best solutions.
C. is the only way to analyze a policy.
D. examines if the policy actually accomplished its goals.
D. examines if the policy actually accomplished its goals.
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If real interest rates decrease, we generally expect
A. saving to increase. B. saving to decrease. C. consumption spending to decrease. D. no significant change in saving.
Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she charges each customer according to his or her willingness to pay instead of a uniform price of $7. Which of the following statements is true?
A) Julie has converted the consumer surplus (from a uniform price) into economic profit. B) Julie's has converted the producer surplus (from a uniform price) into consumer surplus. C) Julie is worse off because the demand for her services is reduced. D) Julie's customers are better off because their consumer surplus has increased.
According to the rule of 70, a country will double its real GDP per capita in 35 years if it grows at an average of ________ per year.
A. 2.0% B. 3.5 % C. 5.0% D. 7.0%
The figure below shows the U.S. market for imported wine. For simplicity, we consider export supply curves to be flat. Chilean wine is available for $480 per barrel and French wine is available for $420 per barrel.
Suppose the United States has a tariff of $80 per barrel on imported wine. Then, the United States joins a free-trade area with Chile. How much will the U.S. government tariff revenue change (as a result of joining the free trade area)?
A. Increase by $50 million B. Decrease by $300 million C. Decrease by $800 million D. Increase by $600 million