Figure 8-1
Which graph in Figure 8-1 shows a typical firm’s total revenue and total cost curves?
A. (a)
B. (b)
C. (c)
D. (d)
Answer: C
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If the government decides to impose a new tariff on orange juice from Brazil, the tariff would lead to ________ the tariff revenue collected by the U.S. government
A) no change in B) an increase in C) a decrease in D) an elimination of E) making illegal
Compare currency board to conventional fixed exchange rate
What will be an ideal response?
If all firms had to bear all the social costs of their actions, we should observe marginal cost curves
A) of all firms shifting up. B) of some firms shifting up, of some others shifting down, and of the rest not shifting at all. C) of all firms that had generated externalities shifting up while there would be no change for the rest of the firms. D) of some firms shifting up and of the rest shifting down.
Some argue that many countries have observed the experience of other countries that have grown more quickly and have ______________ it.
a. collapsed because of b. learned from c. settled because of d. stalled because of