Which of the following is most likely to close a recessionary gap in the economy?
What will be an ideal response?
an increase in the compensation for government employees
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Use the table below to answer the following question.ProducerMinimum Acceptable Product PriceActual Product Price (Equilibrium Price)Kimberly$6$13Drake713Nicki913Victoria1113What is the total producer surplus for all four producers shown?
A. $24 B. $6 C. $19 D. $13
When a society cannot produce all the goods and services people wish to have, the economy is experiencing
a. scarcity. b. surpluses. c. inefficiencies. d. inequalities.
For a cost function C = 100 + 10Q + Q2, the average fixed cost of producing 10 units of output is:
A. 5. B. 1. C. 10. D. None of the answers are correct.
The current deficit is
A. the deficit minus current expenditures. B. the deficit minus depreciation. C. the deficit plus net interest payments. D. the deficit minus government investment.