Figure 4-25
Refer to . After the tax is levied, consumer surplus is represented by area
a.
A.
b.
A + B + C.
c.
D + E + F.
d.
F.
a
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If the Canadian dollar price of a United States dollar increases from C$0.80 to C$1.00, it can be concluded that ________.
A. the Canadian dollar has appreciated in value relative to the United States dollar B. the United States dollar has depreciated in value relative to the Canadian dollar C. the Canadian dollar has depreciated in value relative to the United States dollar D. both countries are on the international gold standard
Economy A: gross investment equals depreciation Economy B: depreciation exceeds gross investment Economy C: gross investment exceeds depreciation Refer to the above information. Positive net investment is occurring in:
a) economy A only. b) economy B only. c) economy C only. d) economies A and B only.
Economic growth is most likely to solve the problems of
A. environmental pollution. B. world poverty. C. emotional stress. D. social alienation.
Evaluate the statement that “unexpected declines in demand, with inflexible prices, generate a rise in unemployment and a fall in output.”
What will be an ideal response?