Which of the following is most likely to occur if a price-takers' market displaces a price-searchers' market?
A) Costs will be higher.
B) Efficiency will be less.
C) Net revenue will be larger.
D) Output will be larger.
E) Prices will be higher.
D
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If a tax was instituted such that every dollar collected in taxes from high income households resulted in a distribution of $.80 to low income households
A) efficiency and equality of incomes would both decrease. B) equality of incomes would increase but efficiency would decrease. C) efficiency would increase but equality of incomes would decrease. D) efficiency and equality of incomes would both increase.
An efficient point of production is
A) a point on the production possibilities curve. B) a point inside the production possibilities curve. C) the point where scarcity no longer exists. D) the point where we are currently producing.
When the demand for a country's exports increases, its export function _____
a. shifts upward b. shifts downward c. rotates upward d. rotates downward
What does GGD stand for?
(a) Government's Great Deeds. (b) General Government Deficit. (c) General Government Debt. (d) General Government Defence.