Refer to the information provided in Table 33.2 below to answer the question(s) that follow.
Table 33.2Refer to Table 33.2. The most that Thailand will be willing to pay for a tractor is
A. 5 motorcycles.
B. 10 motorcycles.
C. 15 motorcycles.
D. 20 motorcycles.
Answer: C
Economics
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Deadweight loss from the imposition of a price floor increases as consumer demand becomes more price elastic.
Answer the following statement true (T) or false (F)
Economics
Which of the following would be true if all the national debt were owned internally?
A. The federal government would not need to refinance the national debt. B. The federal government would not need to worry about raising taxes to pay interest on the national debt. C. We would still be concerned about the effect on the distribution of income from interest payments on the national debt. D. Budget surpluses would be more likely than budget deficits.
Economics