An export tariff will ________ producer surplus, ________ consumer surplus, ________ government revenue, and ________ overall domestic national welfare
A) increase; decrease; increase; have an ambiguous effect on
B) increase; decrease; decrease; decrease
C) increase; decrease; have no effect on; have an ambiguous effect on
D) increase; decrease; have no effect on; decrease
E) increase; increase; decrease; have an ambiguous effect on
A
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For every firm that faces a downward-sloping demand curve for its output,
a. marginal cost exceeds marginal revenue at all output levels b. marginal revenue equals the price of the last unit sold c. marginal revenue is less than the price of the last unit sold d. marginal revenue exceeds the price of the last unit sold e. marginal cost exceeds the price of the last unit sold
Which of the following describes the growth in real GDP per person in the United States from 1900 to the present?
A) It has decreased. B) It has increased by more than eight times. C) It has doubled. D) It has increased twenty times.