Refer to Figure 9-3. What is the value of domestic producer surplus after the imposition of a quota?
A) $10.75 million B) $15.75 million C) $17.25 million D) $27.75 million
B
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When the short run aggregate supply curve shifts right, it ___ the short-run Phillips curve
a. Moves the economy up along b. Moves the economy down along c. Shifts right d. Shifts left
One of the effects of gas prices rising from about $2 to about $4 per gallon was airlines ordering new, fuel-efficient aircraft
a. True b. False Indicate whether the statement is true or false
Which of the following demonstrates opportunity cost?
A. With a new strain of wheat, the wheat crop of Canada grows by 20% with no change in the productive resources devoted to wheat farming. B. A tax cut increases people's purchases of consumer goods and decreases state expenditures on education. C. The ravages of World War II reduced Japan's ability to produce goods. D. Flora gets a 10% raise and increases her expenditures on movies.
There is a permanent underclass totaling about _____% of our population.
Fill in the blank(s) with the appropriate word(s).