Figure 4-22
Refer to . The effective price sellers receive after the tax is imposed is
a.
$1.00.
b.
$3.50.
c.
$5.00.
d.
$6.00.
b
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A major contribution of the Solow model is its ________
A) insight into what distinguishes rich economies from poor economies B) explanation of why productivity grows over time C) demonstration that the key to sustained growth is a high level of saving D) encouragement of policies to limit population growth
Refer to the following graph.
The marginal utility curve associated with this total utility curve is:
A. a flat line with a slope of zero. B. a downward-sloping curve. C. an upward-sloping curve. D. indeterminate.
When Brazil can generate a product using fewer labor hours and resources than the United States, an economist would say that Brazil had:
A. a comparative advantage in production of the product. B. an absolute advantage in production of the product. C. a higher opportunity cost of producing the product. D. no incentive to import the product, regardless of the cost-price conditions for other products.
If Congress increases government spending, it is using
A. monetary policy. B. fiscal policy. C. incomes policy. D. supply-side policy.