Between the years of 2001 and 2003, what happened to the structural deficit?
a. It declined rapidly.
b. It fell steadily.
c. It increased steadily.
d. It remained fairly constant.
c
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Constructing the CPI involves which of the following stages?
i. conducting the monthly price survey ii. converting the CPI to an international index iii. selecting CPI market basket A) i and iii B) iii only C) ii only D) i only E) i, ii, and iii
A firm that produces chemical solvents creates some air pollution because of the emissions from its manufacturing facilities. A tax is imposed on the firm, equal to the costs of environmental damage caused by a unit of the emissions
What is the result? A) The quantity of chemical solvents produced now will be the efficient amount. B) Demand for the chemical solvents will increase. C) Demand for the chemical solvents will decrease. D) Consumers of the chemical solvents will be willing to pay the full amount of the tax, and so the quantity produced will be unaffected.
According to the above figure for a gasoline market, an increase in the price from $2 to $4 will result in
A) a shortage of 30 million gallons. B) an increase in quantity demanded of 10 million gallons. C) an increase in quantity supplied of 20 million gallons. D) an increase in demand of 20 million gallons.
When a firm's average revenue falls, the marginal revenue also falls and is less than the average revenue
a. True b. False Indicate whether the statement is true or false