The increase in the price of sugar created by the tariff will lead domestic production to increase by ________ tons per year, compared to when the economy is open without the tariff.
A. 10
B. 20
C. 40
D. 30
Answer: B
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If fiscal policy implementation causes some crowding out, the ________ shift of the aggregate demand curve will be ________ than it would have been if no crowding out had occurred.
A. leftward; larger B. rightward; smaller C. rightward; larger D. leftward; smaller
Brenda's Bakery started selling coffee along with pastries. In order to increase total sales she should
a. Increase the prices on coffee b. Decrease the price on pastries c. Increase the price of pastries d. Shut down
The average revenue curve can also be described as the demand curve
a. True b. False Indicate whether the statement is true or false
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
Given the payoffs in the matrix shown, Firm B:
A. should always choose to collude, regardless of Firm A's actions. B. should always choose to compete, regardless of Firm A's actions. C. should compete if Firm A colludes and collude if Firm A competes. D. should compete if Firm A competes and collude if Firm A colludes.