A tax cut targeted at ____ people may have a bigger effect because
a. poorer; poorer people tend to spend a higher share of their income

Suppose after the semester ends, you take a trip to a tropical island. Upon arriving at the island, you make a stop at one of the markets and notice that everyone is carrying around jars full of little turtles

You also notice the person in line in front of you just paid for a bottle of rum with 6 turtles. Someone else just bought a straw hat for two turtles. Thinking back to your economics class (as painful as that may be), you would conclude that A) turtle soup is a delicacy. B) turtles are valueless. C) this is a barter economy. D) those little turtles are serving as money.

A textbook publisher is in monopolistic competition. The firm can sell no books at $100 a book, but for each $10 cut in price, the quantity of books it can sell increases by 20 books a day

The firm's average variable cost and marginal cost is a constant $20 per book. What is the publisher's profit-maximizing level of output? A) 60 books per day B) 80 books per day C) 100 books per day D) 120 books per day