Given the demand curve in this graph, if price were $3.00, how much is consumer surplus?
A. $0
B. $1.50
C. $5.00
D. $10.50
A. $0
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Inflation occurs when:
a. The prices of all goods and services rise by the same percent during a given period of time. b. There is a sustained increase in the average price level. c. There is an increase in the price level of raw materials. d. The contraction of the monetary base leads to a decrease in the average price level.
The total cost curve
A. is parallel to the total fixed cost curve. B. is a horizontal line. C. increases at a decreasing rate due to diminishing returns. D. is parallel to and above the total variable cost curve.
A country’s economic growth is determined by its level of productivity, which in turn is determined by its ______.
a. standard of living, natural resources, technology, and human capital b. technology, natural resources, human capital, and physical capital c. population size, infrastructure, physical capital, and natural resources d. age, population size, natural resources, and infrastructure
The policy mix that the Clinton administration sought in early 1993 was a
A. smaller budget deficit and tighter monetary policy. B. smaller budget deficit and looser monetary policy. C. larger budget deficit and looser monetary policy. D. larger budget deficit and tighter monetary policy.