A "liberal" would most likely argue in favor of
a. tax increases when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary.
b. tax cuts when fiscal restraint is necessary, and spending cuts when fiscal stimulus is necessary.
c. tax cuts when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary.
d. spending increases when fiscal expansion is necessary, and tax increases when fiscal restraint is necessary.
d
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A perfectly competitive firm is producing 50 units of output and selling at the market price of $23. The firm's average total cost is $20. What is the firm's economic profit?
A) $23 B) $150 C) $1,000 D) $1,150 E) $50
A store remains open from 8 a.m. to 4
A) is the benefit the owner receives from staying open from 8 a.m. to 5 pm. B) depends on the revenues the owner makes during the day. C) must be greater than or equal to the owner's marginal cost if the owner decides to stay open. D) is the benefit the owner receives from staying open from 8 a.m. to 6 pm.