Carlos receives a consumer surplus of $10 for the first glass of lemonade. For the second glass, he receives a consumer surplus of $8, and for the third glass, he receives a consumer surplus of $6 . His total consumer surplus from the three glasses of lemonade is _____
a. $10
b. $24
c. $14
d. $15
b
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By the accelerator hypothesis, if a firm's actual sales jump in one period to a higher maintained level, that firm's net investment
A) also jumps in one period to a higher maintained level. B) gradually drifts upward to a higher maintained level. C) jumps upward and then falls back to zero. D) jumps upward and then falls back part of the way.
In an economy open to international trade where the interest rate at which saving and investment would be equal is ________ the world real interest rate ________
A) above; a trade surplus ensues B) below; a trade deficit ensues C) above; there is a net capital outflow D) below; there is a net capital inflow E) none of the above
Arlo is offered a job in Des Moines, where the CPI is 60, and a job in New York, where the CPI is 125 . Arlo's job offer in Des Moines is for $48,000 . How much does the New York job have to pay in order for the two salaries to represent the same purchasing power?
a. $23,040 b. $52,000 c. $79,200 d. $100,000
If a newly elected government takes actions that makes its country's courts more efficient and less corrupt, then
a. producers will have greater confidence that they will benefit from their efforts. b. producers are likely to be more specialized. c. buyers and sellers will be more likely to honor contracts. d. All of the above are correct.