The producer surplus is found by subtracting the ________ and then adding the difference for all units sold
A) marginal cost from price
B) price from marginal cost
C) marginal benefit from total benefit
D) marginal cost from marginal benefit
E) deadweight loss from the price
B
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What would happen in the market for rental housing in your community if the local government legally mandated rents that were below the market clearing price?
A) There would be a surplus of rental housing. B) There would be a shortage of rental housing. C) The demand for rental housing would increase. D) The supply of rental housing would decrease.
In the equation of exchange, if the money supply is $3 billion, the price level is 2, and the real GDP is $6 billion, the velocity is
A) 1. B) 2. C) 4. D) 36.
For a monopoly, marginal revenue for all units greater than 1 is always:
A. more than price because of the quantity effect. B. more than price because of the price effect. C. less than price because of the quantity effect. D. less than price because of the price effect.
If imports are $4 billion and net exports are $4 billion, what must be the value of exports?
A. $4 billion B. $2 billion C. $0 billion D. $8 billion