A “conservative” would most likely argue in favor of
A. tax increases when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary.
B. tax cuts when fiscal restraint is necessary, and spending cuts when fiscal stimulus is necessary.
C. tax cuts when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary.
D. spending increases when fiscal expansion is necessary, and tax increases when fiscal stimulus is necessary.
Answer: C
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Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1
What is the value of Nick's consumer surplus for the milkshakes he buys? A) $2 B) $9 C) $3 D) $10
The Coase Theorem states that externalities can always be eliminated by the market as long as property rights exist, the number of parties involved is small, and transactions costs are low
Indicate whether the statement is true or false
When average variable cost is rising ______.
a. the average total cost curve must be moving downward b. the point of increasing marginal utility has set in c. the average fixed cost curve crosses it at its highest point d. marginal cost must be higher than the average variable cost
In the United States, the class system is a:
A. triangle, and in most developing countries the class system is a diamond. B. pentagon, and in most developing countries the class system is a diamond. C. pentagon, and in most developing countries the class system is a triangle. D. triangle, and in most developing countries the class system is a triangle.