After a $3 per-unit tax on seeing movies in theaters is imposed, attendance falls from 4,000 a week to 3,000 a week. The revenue from the tax is
A) less than $9,000 a week.
B) $9,000 a week.
C) between $9,000 a week and $12,000 a week.
D) some amount that cannot be calculated without more information.
B
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A small open economy has a current account balance of zero. A rise in the world real interest rate causes
A) a current account surplus. B) a financial account surplus. C) net borrowing from abroad. D) absorption to exceed income.
Costs of unemployment include
A) structural unemployment. B) the output lost due to the fact that the economy is not running at full employment. C) reduction in the labor force. D) higher wages.
Binary variables
A) are generally used to control for outliers in your sample. B) can take on more than two values. C) exclude certain individuals from your sample. D) can take on only two values.
The full employment level of real GDP can be represented on an aggregate supply and demand diagram as a(n):
a. vertical line. b. upward-sloping line. c. horizontal line. d. downward-sloping line.