Suppose a fishing boat currently brings 10,000 fish to market and earns a profit of $40,000 when the price of fish is $8 . Suppose the boat dealer had overcharged the boat owner for the boat. Upon receiving a refund of $25,000 from the dealer, what will happen to the ATC of producing 10,000 fish?
a. increases by $25
b. increases by $2.50
c. does not change
d. decreases by $2.50
e. decreases by $25
D
Economics
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If Y = income, G = government spending, T = autonomous taxes, and t = income tax rate, then the government budget deficit can be expressed as
A) G - T/Y(t). B) G - T. C) Y + G - T - ty. D) G - T - ty.
Economics
Refer to the information provided in Table 21.4 below to answer the question(s) that follow. Table 21.4
Refer to Table 21.4. The value for disposable personal income in billions of dollars is
A. 750. B. 770. C. 820. D. 990.
Economics