As shown in the figure above, the rent ceiling ________ consumer surplus and ________ producer surplus
A) decreases; decreases
B) decreases; increases
C) increases; increases
D) increases; decreases
E) decreases; does not change
A
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If the economy is producing at point D, the opportunity cost of shifting resources from consumer goods to gain 6 capital goods is _______ consumer goods.
Ransom E. Olds
A. was the first automobile manufacturer to use a division of labor and an assembly line. B. was the first automobile manufacturer to manufacture a standardized engine with interchangeable parts. C. sold millions of cars at a small unit of profit that allowed his company to dominate the industry. D. All of the choices are true.
The amount the government owes to the public is the deficit.
Answer the following statement true (T) or false (F)
John Maynard Keynes expressed his ideas about the macroeconomy and attacked classical economics in his book, The:
A. Affluent Society B. Wealth of Nations C. Theory and Practice of Economics in Capitalism D. General Theory of Employment, Interest, and Money