A tariff on avocadoes ______________ the price of avocadoes, _____________ consumers' surplus for avocado buyers, _______________ producers' surplus of avocado growers and __________________ tariff revenue. Because the loss to _____________ is more than the gain to ___________________, there is a net loss to society
A) raises; increases; decreases; generates; producers; consumers and government
B) lowers; increases; decreases; does not generate; producers and government; consumers
C) raises; increases; decreases; does not generate; producers and government; consumers
D) raises; decreases; increases; generates; consumers; producers and government
D
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Which of the following is true for a monopolist?
A) Being the only seller in the market, the monopolist faces the market demand curve. B) Being the only seller in the market, the monopolist faces a perfectly elastic demand curve. C) Being the only seller in the market, the monopolist faces a downward-sloping demand curve that lies below the marginal revenue curve. D) Being the only seller in the market, the monopolist faces a perfectly inelastic demand curve.
Explain the issues involved with the Fed acting as a lender of Last Resort (LLR)
What will be an ideal response?
All output combinations that lie outside a production possibilities curve are attainable with available resources and technology.
Answer the following statement true (T) or false (F)
The turnover view of unemployment stresses that
A) most job vacancies have skill requirements not possessed by the unemployed. B) many job vacancies are located in different areas of the country than are the unemployed. C) there exist incentives for workers to refuse to accept jobs. D) there exists racial/and or sex discrimination against some workers.