Consumer surplus can be measured as the area between the demand curve and the equilibrium price

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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The figure above shows the market for tires. The figure shows that the government has imposed a tax of ________ per tire and that ________ pay most of the tax

A) $30; buyers B) $40; buyers C) $30; sellers D) $60; sellers E) $60; buyers

Economics

The mean (average) of 5 numbers is 130. If one of the numbers is recorded incorrectly as 59 instead of 95, what would be the correct mean?

A) 126.52 B) 130 C) 137.2 D) 140

Economics

Consider the following scenario. Initially the economy has 90 million people working, 10 million people unemployed, and 20 million people not in the labor force. Then prospects for the economy improve

Five million people who previously were not in the labor force now join the 10 million previously unemployed in looking for work. For now, the economy remains with 90 million workers. What happens to the unemployment rate?

Economics

At a recent faculty meeting, Lorraine Waverly, president of Skywalker College, announced that enrollment is up by 12 percent over the previous semester

If enrollment the previous semester was 3,250 students, what is the student enrollment this semester? A) 390 B) 2,860 C) 3,640 D) 4,030

Economics