An increase in both equilibrium price and quantity could be produced by a(n)
a. decrease in supply, with demand constant
b. increase in supply, with demand constant
c. decrease in demand, with supply constant
d. increase in demand, with supply constant
e. rise in resource prices
D
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From the late 1860s until 1907 the U.S. averaged a four percent or more increase in the real value of the goods and services produced
Indicate whether the statement is true or false
Spending tends to be more susceptible to special interests than taxation
a. True b. False
Managers must monitor knowledge workers closely
Indicate whether the statement is true or false
If the equilibrium quantity of a good is also the socially optimal quantity, then:
A. total economic surplus has been maximized. B. the marginal cost to producers of another unit of the good is zero. C. it's possible to make at least one person better off without hurting anyone else. D. the marginal benefit to consumers of another unit of the good is zero.