Producer surplus is defined as
A. the value that the consumer places on a good over the amount they pay for it.
B. when quantity demanded is greater than quantity supplied.
C. the money that the producer gets from a good over the amount they are willing to sell it for.
D. when quantity supplied is greater than quantity demanded.
Answer: C
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When the Federal Reserve decreases the money supply, at the previous equilibrium interest rate households and firms will now want to
A) sell Treasury bills. B) hold less money. C) neither buy nor sell Treasury bills. D) buy Treasury bills.
Medical malpractice law is designed to
a. encourage physicians to act as responsible agents for their patients b. punish those providers guilty of intentional misconduct c. provide an income for the insurance firms who sell malpractice insurance d. none of these choices
Agreeing to take a drug test offered by a potential employer is a method of:
A. signaling. B. screening. C. building a reputation. D. statistical discrimination.
Which of the following is not an important addition made to the base Accords by base III in 2010?
A. It introduces three buffers over and above capital requirements itself. B. It supplements capital requirements based on risk-weighted assets with restrictions on leverage. C. It adds a liquidity requirement that compels banks to hold a quantity of high-quality liquid assets. D. It ends the too-big-to-fail problem.