Taxes on specific goods such as cigarettes, gasoline, and alcoholic beverages are called

Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that we observe Joe staying open 6 hours per day

If he is following the marginal principle, what must his marginal cost per hour be? A) $16 B) $24 C) $32 D) $48

What can we conclude if depreciation (consumption of fixed capital) exceeds gross domestic investment?

A. Net investment is negative. B. The economy is importing more than it exports. C. The economy's production capacity is expanding. D. Nominal GDP is rising but real GDP is declining.