Not all sellers benefit from a binding price floor
a. True
b. False
Indicate whether the statement is true or false
True
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The most important purpose of a market is to
A. bring buyers and sellers together so they can argue. B. bring buyers and sellers together so they can barter. C. increase the sellers' wealth. D. bring buyers and sellers together so they can trade.
Refer to the above figure. Unexpected contractionary monetary policy has caused the aggregate demand curve to shift to AD2. In the long run
A) real GDP will be Y1, and the price level will be P1. B) real GDP will be Y2, and the price level will be P2. C) real GDP will be between Y1 and Y2, and the price level will be above P1. D) real GDP will be between Y1 and Y2, and the price level will be below P2.
In Figure 45.1, the (producer) surplus that employees get at the equilibrium wage-labor combination is 
Figure 45.1
A. ABC. B. BW*C. C. W*AC. D. OACL*.
The concept of margin, or marginal
A. is central to economics. B. has little to do with economics. C. is applied only to a firm's costs. D. is applied only to a firm's output.