If net taxes decrease by $500 billion, both household disposable income and consumption spending will increase by $500 billion
a. True
b. False
B
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Identify two ways that the government intervenes in markets to control prices and restricts the use of individual property
What will be an ideal response?
A nominal appreciation of the Japanese yen (against all currencies) indicates that
A) the yen price of the U.S. dollar has increased. B) the yen price of the U.K. pound has increased. C) the number of units of foreign currency that one can obtain with one yen has increased. D) all of the above
The figure above shows the cost, marginal revenue, and demand curves of Golden Chow, a producer of dog food. The market for dog food is monopolistic competition. In the long run as new firms enter, Golden Chow cuts its output to 200 cans per day
Its excess capacity is ________ cans per day. A) 0 B) between 0 and 200 C) between 201 and 400 D) more than 401
In Figure 22.2, which area represents total revenue to the tobacco company?
A. BP*C B. AP*C C. 0BCQ* D. 0P*CQ*