If a price floor of $23 were placed on the market in the graph shown, which area represents the surplus that is transferred?
A. B + C + D
B. B + C
C. C
D. B
D. B
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A nation's real GDP was $250 billion in 2014 and $265 billion in 2015. Its population was 120 million in 2014 and 125 million in 2015. What is its real GDP growth rate in 2015?
A. 1.1% B. 5.7% C. 6.0% D. 15.0%
Which of the following is not an indicator that is used by the World Bank in measuring the level of economic development?
a. life expectancy at birth. b. adult literacy rate. c. infant mortality rate. d. all of the above are not used by the World Bank.
The Lerner index measures
A) a firm's potential monopoly power. B) the amount of monopoly power a firm chooses to exercises when maximizing profits. C) a firm's potential profitability. D) an industry's potential market power.
Firms that do not reach their minimum long run average cost must, to avoid continued losses, either adjust their scale or leave the industry
Indicate whether the statement is true or false