The above figure illustrates a single-price unregulated monopolist. If the monopolist maximizes its profit, the deadweight loss equals ________
A) $10,000
B) $20,000
C) $45,000
D) $40,000
A
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What policies can a government undertake to achieve faster economic growth?
What will be an ideal response?
The goal of a gold standard is to
A) return money back to its natural state. B) shift wealth from the middle class to the rich. C) reduce uncertainty by limiting the power of the Federal Reserve to increase the amount of money in circulation. D) conserve on natural resources, such as pulpwood, used to make paper money.
Which of the following hypotheses about voter behavior have been advanced in public-choice literature?
a. Voters are myopic b. Unemployment is more likely to result in vote loss than is higher inflation c. Deficit bias of the budget process d. Both a and c e. All of the above
Countries that engage in trade will tend to specialize in goods in which they have a(n) _______ and will _______ those goods.
A) comparative advantage; import B) absolute advantage; export C) comparative advantage; export D) economic profit; import