Exports are products produced in the home country and sold in another country
Indicate whether the statement is true or false
TRUE
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Along the portion of the consumption function that lies above the 45-degree line, saving is
A) positive. B) negative. C) equal to zero. D) equal to consumption.
Brian is the sole proprietor owner of Long Voyage Software, which generates maps for wilderness trips. He started the business with an initial investment of $80,000 . A faulty map caused one customer to get hopelessly lost. After her rescue and recuperation, she sued Long Voyage for $5,000,000 . Which of the following is true?
a. The customer can be awarded only $80,000--what the firm has available to pay. b. The customer can be awarded $5,000,000 but can get only $80,000. c. The customer can be awarded $5,000,000 . but Brian personally won't have to pay more than $80,000. d. If $5,000,000 is awarded, Brian will have to pay none of it. e. If $5,000,000 is awarded, Brian is personally responsible for paying all of it.
Regarding the institutional requirements of efficient markets,
a. Western economic theory ignores the operation of efficient markets b. market economists have an almost perfect understanding c. market economists would never take the necessary institutions for granted d. those involved in a transition from centrally planned economy must develop a deep appreciation e. None of the answers is correct
In the market for widgets, the supply curve is the typical upward-sloping straight line, and the demand curve is the typical downward-sloping straight line. The equilibrium quantity in the market for widgets is 250 per month when there is no tax. Then a tax of $6 per widget is imposed. As a result, the government is able to raise $750 per month in tax revenue. We can conclude that the after-tax
quantity of widgets is a. 75 per month. b. 100 per month. c. 125 per month. d. 150 per month.