Refer to Figure 12-6. To maximize his profit, Jason should produce the rate of output indicated by point
A) d. B) b. C) e. D) a.
A
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Which of the following situations is least likely to involve mutual interdependence?
A) Canada is thinking about banning all imported beef from the United States. B) Octavia is thinking about trading in her Toyota Prius for a BMW 220i. C) Walmart is considering moving up the start-time for its Black Friday sales to 12:01 AM on Thanksgiving day. D) McDonald's is thinking about lowering all its menu prices by 50 percent.
The Federal Open Market Committee consists of the seven members of the ________, the president of the Federal Reserve Bank of New York, and ________
A) Council of Economic Advisors; four members of the U.S. Banking Committee B) Council of Economic Advisors; four presidents from the 11 Federal Reserve banks C) Federal Reserve's Board of Governors; four presidents from the other 11 Federal Reserve banks D) Federal Reserve's Board of Governors; four members of the Council of Economic Advisors
As the U.S. price level decreases, expenditures by which of the following will increase?
A. Consumers B. Businesses C. The rest of the world D. All of these will increase their expenditures.
Which of the following would likely cause the greatest deadweight loss?
a. a tax on cigarettes b. a tax on salt c. a tax on cruise line tickets d. a tax on gasoline