Figure 3-16
Refer to . When the price is P2, producer surplus is
a.
A.
b.
A + C.
c.
A + B + C.
d.
D + E.
c
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Refer to the scenario above. The housekeeper's behavior is an example of a ________
A) moral hazard B) positive externality C) prisoners' dilemma D) tragedy of the commons
Which of the following is FALSE concerning the long run?
A) Economists believe that fiscal and monetary policies have no permanent effects on the economy. B) Economists more or less agree that the economy tends to fluctuate around the level that is consistent with full employment. C) In the long run, the unemployment rate returns to its normal level. D) The current account must tend toward balance in the long run. E) None of the above.
In 2013, which of the following countries had the highest negative current account balance?
a. United Kingdom b. France c. United States d. Japan
Country tends to grow faster when
a. Have more greater college graduates b. Less trade with the world c. Government restricts direction d. Savings and investments decreases e. Stock on physical capital