Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A.
B. C to D.
C. B to D.
D. A to C.
Answer: B
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Refer to Scenario 5.4. What is the pay-off of outcome C?
A) -150 B) 0 C) 25 D) 100 E) 150
Jeff decides that he would pay as much as $2,000 for a new laptop computer. He buys the computer and realizes a consumer surplus of $300 . How much did Jeff pay for his computer?
a. $300. b. $1,700. c. $2,000. d. $2,300.
Is it possible for mandatory seatbelt laws to increase vehicle fatalities?
A) Yes, if the number of accidents increases by a greater percentage than the number of deaths per accident decreases. B) No, because wearing seatbelts decreases the number of deaths per accident. C) No, because wearing seatbelts decreases the number of accidents. D) There is not enough information to answer the question.
One area of disagreement among economists is the impact that income tax cuts will have on a budget deficit. Explain in detail the reasoning of both sides of this argument