The United States produced approximately ________ worth of goods and services in 2011
A) $15 trillion
B) $15 billion
C) $150 trillion
D) $150 billion
E) $1,500 trillion
A
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Refer to the scenario above. In equilibrium, ________
A) Mathew will choose good and Peter will choose bad B) Peter will choose good and Mathew will choose bad C) both Mathew and Peter will choose bad D) both Mathew and Peter will choose good
A set of ideas about the economy that have been organized in a logical framework is called
A) empirical analysis. B) a methodology. C) economic theory. D) data development.
If firms are uncertain about future returns and delay business investments,
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward.
A corrective tax is intended to: a. cover the costs of negative externalities
b. increase the private benefits of consumption. c. increase the deadweight loss caused by negative externalities. d. increase the deadweight loss caused by positive externalities.