Nonresidential structures are examples of physical capital.
Answer the following statement true (T) or false (F)
True
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The market demand function for ice cream is Qd = 10 - 2P and the market supply function for ice cream is Qs = 4P - 2, where both quantities are measured in millions of gallons per year. What is the producer surplus at the competitive market equilibrium?
A. $1.5 million B. $4.5 million C. $9 million D. $13.5 million
In the market for widgets, the supply curve is the typical upward-sloping straight line, and the demand curve is the typical downward-sloping straight line. The equilibrium quantity in the market for widgets is 250 per month when there is no tax. Then a tax of $6 per widget is imposed. As a result, the government is able to raise $750 per month in tax revenue. We can conclude that the after-tax
quantity of widgets is a. 75 per month. b. 100 per month. c. 125 per month. d. 150 per month.
Assume a simplified banking system in which all banks are subject to a uniform reserve requirement of 20 percent and checkable deposits are the only form of money. A bank that received a new checkable deposit of $10,000 would be able to extend new loans up to a maximum of:
a. $2,000. b. $8,000. c. $10,000. d. $9,000.
The quantity of real GDP supplied at full employment is called...
What will be an ideal response?