If net taxes decrease, which of the following would occur?
a. Disposable income decreases, consumption at any income level increases, and the consumption-income line shifts upward.
b. Disposable income increases, consumption at any income level increases, and the consumption-income line shifts downward.
c. Disposable income increases, consumption at any income level increases, and the consumption-income line shifts upward.
d. Disposable income decreases, consumption at any income level decreases, and the consumption-income line shifts downward.
e. Disposable income increases, consumption at any income level decreases, and the consumption-income line shifts downward.
C
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Which single international issue draws considerable consensus among most people and governments around the world?
a. that more funds should be directed toward foreign aid b. that global inequality should be reduced c. that poverty should be combatted by globalization d. that fair trade should be encouraged and expanded
Consider the market for cable television in the figure above. This graph depicts a natural monopoly because the
A) marginal cost curve is constant. B) demand curve is downward sloping. C) average cost curve is declining as it crosses the demand curve. D) marginal revenue curve is downward sloping.