If it costs Sinclair $300 to produce 3 suede jackets and $420 to produce 4 suede jackets, then the difference of $120 is the marginal cost of producing the 4th suede jacket
Indicate whether the statement is true or false
TRUE
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The "Buy American" provision in the 2009 stimulus package required that stimulus money be spent only on U.S.-made goods, effectively acting as a quota of zero imports when stimulus money was being spent. In the U.S
steel market, the "Buy American" provision in the 2009 stimulus package would A) reduce the producer surplus received by foreign manufacturers. B) transfer some deadweight loss to producer surplus. C) transfer some producer surplus to consumer surplus. D) convert some consumer surplus to deadweight loss.
Here's some unhappy news for Canadians: Canada's real GDP declined steadily for the first half of 2000 . so that Canada was, at least during that period of time, and according to economists, in a
a. depression b. recovery from recession c. recession d. peak or prosperity phase of its business cycle e. deflation
Suppose the demand function is given by Qxd = 8Px0.5 Py0.25 M0.12 H. Then good x is:
A. perfectly inelastic. B. a normal good. C. an inferior good. D. a complement for good y.
The bottom 80 percent of the families in the United States receive approximately ________ percent of total income.
A. 90 B. 20 C. 50 D. 10