Economic growth is the result of two major or general "determinants":
A) capital and autonomous planned spending.
B) capital per capita and autonomous planned spending.
C) capital per capita and autonomous growth factors.
D) saving and autonomous growth factors.
C
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Which of the following is NOT true about the $3 per pizza tax illustrated in the above figure?
A) It decreases consumer surplus by $90 thousand. B) It decreases producer surplus by $45 thousand. C) It creates a deadweight loss of $135 thousand. D) None of the above because they are all true.
Why do theater owners often set lower ticket prices for students than for adults?
What will be an ideal response?
Over the past 100 years, real GDP has increased at an annual average of about
A) 10% B) 6% C) 3% D) 1%
If monopolistically competitive firms have some control over the prices they charge, why do they experience zero economic profits in the long run?
What will be an ideal response?