Refer to the information provided in Figure 13.9 below to answer the question(s) that follow. 
Figure 13.9 Refer to Figure 13.9. If this industry was originally perfectly competitive and becomes monopolized, the amount of ________ transferred to Ohio Edison in the form of profits is FGBE.
A. welfare loss
B. net social gain
C. producer surplus
D. consumer surplus
Answer: D
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Martha used to pay for her expenses with her own hard-earned money. She always tried to spend as little as she could. However, she started spending more when she received a scholarship . This behavior is an example of ________
A) moral hazard B) a pecuniary externality C) the free-rider problem D) the paradox of thrift
Refer to Figure 18-1. The appreciation of the dollar is represented as a movement from
A) D to C. B) C to B. C) B to A. D) C to A.
When comparing the percentage of income (or expenditure) of the lowest and highest 10 percent of the population,
a. South Africa has a more equal income distribution than the United States. b. South Africa has a more equal income distribution than Japan. c. Japan has a more equal income distribution than the United States. d. Mexico has a more equal income distribution than Germany.