Refer to the information provided in Table 21.6 below to answer the question(s) that follow. Table 21.6
Refer to Table 21.6. The value of government spending in billions of dollars is
A. 800.
B. 1,400.
C. 2,000.
D. 2,300.
Answer: C
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Figure 10-5
?
In Figure 10-5, points which lie on the firm’s short-run supply curve are
A. A, B, C. B. C, D, H. C. F, E, G. D. A, C, H.
Which of the following is an in-kind transfer payment?
A. Medicaid. B. Social Security. C. unemployment insurance. D. Temporary Assistance to Needy Families.
Which of the following is an example of a normative statement?
A. Higher prices cause consumers to buy less. B. There should be no unemployment in an advanced industrial society. C. Equilibrium price implies that quantity demanded equals quantity supplied. D. The unemployment rate is six percent.
The value of a good to a consumer depends on
a. its total utility b. the marginal utility of the first unit consumed c. the average utility of the units consumed d. the marginal utility of the last unit consumed e. the ratio of its marginal utility to total utility