Our trade deficit is big for three main reasons: (1) ______, (2) ______, and (3) ________.
Fill in the blank(s) with the appropriate word(s).
our trade deficit with Japan; our trade deficit with China; our oil import bill
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What is the aggregate demand curve and what does it represent?
What will be an ideal response?
Unlike command-and-control regulation, corrective taxes generate revenue for governments
a. True b. False Indicate whether the statement is true or false
Paul's Plumbing is a small business that employs 12 people. Which of the following is the best example of an implicit cost incurred by this firm?
A. The tax payments on property owned by the firm. B. The wages paid to the 12 employees. C. The half of the payroll taxes on the wages of the 12 employees paid by the employers, but not the half paid by the employees. D. The accounting services provided free of charge to the firm by Paul's wife, who is an accountant.
Assume that an individual consumes only coffee and bagels and that the last cup of coffee yields 12 utils and the last bagel 6 utils. If the price of a cup of coffee is $1 and the price of the bagel is $.50, we can conclude that the:
A. consumer should consume more coffee and fewer bagels. B. price of coffee is too high relative to bagels. C. consumer should consume less coffee and more bagels. D. consumer is in equilibrium.