The total of consumer plus producer surplus is largest at the market equilibrium.
Answer the following statement true (T) or false (F)
True
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Of the three major economic questions, which of the following is the best example of a "How?" question?
A) Should we produce more heavy fleece coats? B) Should we spend more on health care? C) Should we collect tolls on turnpikes using human toll collectors or mechanized toll machines? D) Should we eat more oatmeal? E) Should we build log homes or build factories from bricks?
A straight-line demand curve has the same elasticity throughout its length
a. True b. False Indicate whether the statement is true or false
Compared to perfect competitors in the long run, oligopolists charge ______ prices and earn more ______.
Fill in the blank(s) with the appropriate word(s).