If the budget deficit is $50 billion and the structural deficit is $10 billion, the cyclical deficit is
A) $10 billion.
B) $60 billion.
C) $50 billion.
D) $40 billion.
E) More information is need to answer the question.
D
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Suppose Marv, the owner-manager of Marv's Hot Dogs, earned $82,000 in revenue last year. Marv's explicit costs of operation totaled $36,000. Marv has a Bachelor of Science degree in mechanical engineering and could be earning $40,000 annually as mechanical engineer.
A. Marv's economic profit is $36,000. B. Marv's economic profit is $6,000. C. Marv's implicit cost of using owner-supplied resources is $36,000. D. Marv's implicit cost of using owner-supplied resources is $30,000.
If fiscal policy makers increase aggregate demand in an attempt to decrease the unemployment rate below the natural rate of unemployment, then _____
Fill in the blank(s) with the appropriate word(s).
The existence of any consumer surplus in the market suggests that all of the following practices are possible in the market except which one?
A) third-degree price discrimination B) first-degree price discrimination C) second-degree price discrimination D) a single price is charged to all consumers
When employment discrimination results from the personal prejudices of employers, economic theory suggests that
a. competitive forces will tend to reduce discrimination. b. the wages of employees who are discriminated against will rise. c. an employer who discriminates will have the same costs as those who do not discriminate. d. discrimination by an employer will reduce production costs since the employer can pay lower wages.