An online dating firm is
A. a platform in a matchmaking market.
B. an end user in a shared-input market.
C. an end user in a matchmaking market.
D. a platform in a shared-input market.
Answer: A
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The welfare impact of a preferential trade agreement depends on the difference between the amount of new trade that takes place because of the agreement and the change in international trade patterns that arises because of it
Indicate whether the statement is true or false
The market demand function for wheat is Qd = 10 - 2P and the market supply function is Qs = 4P - 2, both measured in billions of bushels per year. Suppose the government wants to increase the price of wheat to $3/bushel and they impose a price floor to achieve their goal. What is the size of the consumer surplus?
A. $4 billion B. $8 billion C. $10 billion D. $6 billion
Crowding-out
A. refers to the idea that increases in government purchases inevitably cause reductions in some form of private consumption or investment. B. only occurs at full employment levels of National Output. C. is translated into inflation during periods of slack employment. D. does not include loss of leisure on the part of workers employed as a result of government spending.
When a surplus exists
A) the price is below the market clearing price. B) quantity demanded exceeds quantity supplied. C) an excess quantity demanded exists. D) none of the above.