Producer surplus
A. Is the difference between the maximum price consumers are willing to pay for a product and the lower equilibrium price.
B. Rises as equilibrium fall
C. Is the difference between the maximum price consumers are willing to pay for a product and the minimum price producers are willing to accept.
D. Is the difference between the minimum price producers are willing to accept for a product and the higher equilibrium price.
Answer: D. Is the difference between the minimum price producers are willing to accept for a product and the higher equilibrium price.
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A) Bondholders B) Top management C) The board of directors D) Stockholders
The ________ refers to the situation when people are promoted beyond their level of competence
a. Peter Principle b. Abernathy Principle c. Delaney Principle d. Suskind Principle
In this graph, how does the expansionary policy influence aggregate demand?
a. It prevents the aggregate demand curve from moving.
b. It shifts the aggregate demand curve to the left.
c. It shifts the aggregate demand curve to the right.
d. It changes the slope of the aggregate demand curve.
When there is an increase in the duration of unemployment, the U.S. Congress typically responds by
A. lowering income taxes. B. extending unemployment benefits. C. redefining "unemployed" so the unemployment rate does not look so bad. D. encouraging unemployed U.S. workers to seek employment overseas.