An increase in the equilibrium quantity of good X can be caused by
A) an increase the price of inputs utilized in producing good X.
B) an increase in the price of good X.
C) a technological improvement in the process of producing good X.
D) a reduction in the number of producers of good X.
C
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To gain market share a firm should
A) maximize marginal revenue. B) maximize profit. C) maximize revenue. D) minimize marginal cost.
Which of the following taxes are earmarked?
a. personal income taxes b. Social Security taxes c. property taxes d. excise taxes e. estate taxes
Your checking account balance would be counted in which measure of money?
A. M1 B. Hard money C. M2 D. It would be counted in both M1 and M2
A small country is considering imposing a tariff on imported wine at the rate of $5 per bottle. Economists have estimated the following based on this tariff amount: World price of wine (free trade):$20 per bottleDomestic production (free trade):500,000 bottlesDomestic production (after tariff):600,000 bottlesDomestic consumption (free trade):750,000 bottlesDomestic consumption (after tariff):650,000 bottles The imposition of the tariff on wine will cause the country's economic well-being to ________ by about
A. fall; $0.75 million. B. rise; $0.75 million. C. fall; $100,000. D. fall; $0.5 million.