If all Pareto improvements have been made
A) the result is increased government regulations.
B) the outcome is Pareto efficient.
C) consumer surplus is maximized.
D) monopolists are unhappy.
B
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Assume that autonomous expenditures in an economy decreased by $10 billion. What is the change in aggregate demand at a given price level if the MPC is 0.5?
a. increase by $50 billion b. increase by $10 billion c. decrease by $20 billion d. decrease by $10 billion
If an economy is operating at a point inside the production possibilities curve, then
A) society's resources are being inefficiently utilized. B) the curve will move to the left. C) society's resources are being used to produce too many consumer goods. D) economic policy must implemented to slow growth of the economy further.
All of the following contribute to income inequality EXCEPT
A) differences in education and training. B) differences in job tastes. C) differences in talent. D) government transfer programs.
An increase in supply will occur when
A) the supply curve shifts downward to the right. B) the supply curve shifts upward to the left. C) the demand curve shifts downward to the left. D) the demand curve shifts upward to the right.