If Darby values a soccer ball at $50, and she pays $40 for it, her consumer surplus is $10
a. True
b. False
Indicate whether the statement is true or false
True
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Frequently, a public good can be adequately provided by private action when its benefits are
a. concentrated among a small number of people. b. equally valued by everyone. c. widespread. d. greater than its costs.
When deciding what to use as money, one characteristic to look for is the:
A. stability of value. B. shape. C. intrinsic value. D. exchange value
As output is expanded, if marginal cost (MC) is less than average total cost (ATC),
a. ATC must be at its minimum. b. ATC must be at its maximum. c. ATC must be decreasing. d. the firm must be earning economic profit.
Tim deposits $30,000 into Statewide Bank. Statewide has a money multiplier of 8. How much money could Tim’s deposit potentially create?
a. $30,000 b. $240,000 c. $3,750 d. $26,250