With this usury law in effect there is a _______ of $_______ billion.
A. surplus; 10
B. surplus; 20
C. shortage; 10
D. shortage; 20
C. shortage; 10
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Compare and contrast the arguments favoring active versus passive policy making
What will be an ideal response?
Suppose that a monopolist is producing an output level of 10,000 units. At that output level, both MR and MC equal $5, AR equals $7, and ATC equals $6. Which of the following statements is correct?
a. the firm is maximizing its total profit, which equals $10,000. b. total cost equals $60,000. c. total revenue equals $70,000. d. All of these.
The position of the United States current account balance in 2009 was
A) lent over 6 percent of its GNP, resulting in a large current account surplus. B) borrowed over 9 percent of its GNP, leading to a large current account deficit. C) achieved a currant account balance of zero. D) borrowed over 10 percent of its GNP, leading to a large current account deficit. E) borrowed less then 5 percent of its GNP, leading to a large current account surplus.
Which of the following would be most likely to encourage capital formation in a less-developed country?
a. The expectation of sustained high inflation. b. The expectation that property rights will be highly secure in the years ahead. c. The imposition of high tariffs and other restraints limiting imports. d. Higher personal and corporate tax rates.