Wendy is willing to pay $50 for a concert ticket and Bruce would like to receive $25 . If the market price is $40 for this transaction, then the total surplus would be $15
a. True
b. False
Indicate whether the statement is true or false
False
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During the 1990s positive technological change in the production of chicken caused the price of chicken to fall. Holding everything else constant, how would this affect the market for pork (a substitute for chicken)?
A) The demand for pork would decrease and the equilibrium price of pork would decrease. B) The demand for pork would increase because consumers could afford to buy more chicken and pork. C) The supply of pork would increase and the equilibrium price of pork would decrease. D) The demand for pork would decrease and the equilibrium price of pork would increase.
Although the dominance of ________ over ________ is clear in all countries, the relative importance of bond versus stock markets differs widely
A) financial intermediaries; securities markets B) financial intermediaries; government agencies C) government agencies; financial intermediaries D) government agencies; securities markets
The short-term unemployment caused by the ordinary difficulties of matching employee to employer is called:
What will be an ideal response?
Figure 4-21
Refer to . The price received by sellers after the tax is imposed is
a.
$18.
b.
$14.
c.
$12.
d.
$8.