The figure above shows the market for milk. If the government pays the milk producers a subsidy and production increases to 300 gallons per day
A) the market is efficient because the marginal social benefit from the last gallon of milk exceeds its marginal social cost.
B) the market is efficient because the total social benefit from milk exceed the total social cost.
C) there is a deadweight loss because the marginal social benefit from the last gallon of milk exceeds its marginal social cost.
D) there is a deadweight loss because the marginal social cost of the last gallon of milk exceeds its marginal social benefit.
D
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The supply curve of books (which are produced using paper made from trees) will shift to the left in response to
A. a decline in college tuition. B. an increase in home building. C. an increase in the supply of lumberjacks. D. an end to government regulations that limit timber harvesting in national forests.
Which of the following would be directly counted in U.S. GDP for 2015?
A) a 2015 Mini Cooper, built in Oxford, England, and sold to a computer programmer in San Jose, California B) a 1957 Chevy Bel Air convertible sold by its original owner to a car collector in Nashville on March 1, 2015 C) a 2015 Harley-Davidson Softail Deluxe, built in Pennsylvania, and sold to a kindergarten teacher in Moose Jaw, Saskatchewan, Canada D) a Tesla car battery, built in 2014 in California, to be installed in a new 2015 Tesla Model S
Many manufacturers sell products labeled as having imperfections at a discount at their factory outlets but do not ship these imperfect goods to regular retail outlets. Why?
What will be an ideal response?
Hometown, USA, has a labor force of 78,567 persons and employment of 74,382 . The unemployment rate for the city is: a. 5.3 percent
b. 5.6 percent. c. 6.0 percent. d. none of the above.