Refer to the figure above. What is the social surplus if the market is in equilibrium?
A) $50
B) $75
C) $100
D) $150
D
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Use the following figure for the federal funds market to answer the next question.
If the Fed supplies $300 billion in reserves, the equilibrium federal funds rate is ________.
A. 5.0% B. 6.0% C. 5.5% D. Undeterminable with the information given.
Demand is given by QD = 6000 - 50P. Domestic supply is QS = 25P. Foreign producers can supply any quantity at a price of $40
a. If foreign producers can sell in the domestic market, what is the equilibrium price? What is the equilibrium quantity? How much is sold by domestic and foreign producers, respectively? b. Under domestic government pressure, foreign producers voluntarily agree to restrict their goods. What will happen to the price and quantity? What will happen to the amount that domestic producers supply? What will happen to revenues of domestic and foreign producers?
Stability and equity are two principles associated with
a. private goods as opposed to public goods b. public goods, such as public assistance and defense c. merit goods, such as public assistance and agriculture d. transfer payment programs, such as education and natural resources e. transfer payment programs, such as public assistance and agriculture
Which would be the most accurate statement?
A. Liberals all agree that if we could provide a job for every American who needs one, we could end nearly all poverty within a generation. B. Barbara Ehrenreich and Frances Fox Piven point out that an increasing number of jobs do not pay enough to subsist on. C. Lisabeth and Daniel Schorr believe that poor teenage girls allow themselves to get pregnant so that they could go on welfare. D. Charles Murray faults our economic system for not providing enough well-paying jobs, which, in turn, has led to widespread poverty.