For the United States since 1950, imports as a percentage of GDP has
A) tripled.
B) increased slightly.
C) remained constant.
D) decreased.
Answer: A
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The figure above shows an education market in which the government is providing households with vouchers. What is the dollar value of a voucher in this market?
A) $4,000 B) $8,000 C) $12,000 D) $16,000 E) None of the above answers is correct.
Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price is $15, how much economic profit does the firm make?
A) $0 B) $30 C) -$10 D) -$15
Economists define liquidity as
A) the difference between the return on the asset and the return on a long-term U.S. Treasury bond. B) the fraction the asset makes up of an investor's portfolio. C) the ease with which an asset can be exchanged for money. D) the difference between the total demand for an asset and the total supply of the asset.
If a price ceiling of $4.00 per gallon is imposed on gasoline, and the market equilibrium price is $4.50, then the price ceiling is a binding constraint on the market
a. True b. False Indicate whether the statement is true or false