Marginal analysis is useful in economics, but not in other areas of life
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 16-6. If Sensei charges the competitive price for his classes, what is the maximum amount of admission fee that he can collect from his customers?
A) the area A + C + D + G + H B) the area A + B C) the area A + B + C + D D) the area A + B + C + D + E
In an economy with flexible exchange rates, which measure(s) are successful at reducing unemployment in the context of the Three-Sector-Model?
a. Decrease government spending. b. Increase the discount rate for banks. c. Lower tax rates. d. Increase reserve requirements. e. All of the above
For a closed economy, GDP is $12 trillion, consumption is $7 trillion, taxes net of transfers are $3 trillion and the government runs a deficit of $1 trillion. What are private saving and national saving?
a. $5 trillion and $3 trillion, respectively b. $5 trillion and $1 trillion, respectively c. $2 trillion and $3 trillion, respectively d. $2 trillion and $1 trillion, respectively
Refer to Figure 4-8. How much revenue does the $40-per-ton tax generate for the government?
a. $600 million
b. $700 million
c. $2.4 billion
d. $2.8 billion