Bill created a new software program he is willing to sell for $300 . He sells his first copy and enjoys a producer surplus of $250 . What is the price paid for the software?
a. $50.
b. $250.
c. $300.
d. $550.
d
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What factors lead to changes in the quantity demanded of money and what factors lead to changes in the demand for money?
What will be an ideal response?
Which of the following is not a reason why government officials are willing to impose entry barriers?
A) to increase economic efficiency B) to raise revenue C) to promote an equitable distribution of income D) to encourage innovation which may improve the standard of living in the long run
An increasing-cost industry will have
A) a perfectly elastic long-run supply curve. B) a perfectly inelastic long-run supply curve. C) an upward sloping supply curve in the long run. D) an upward sloping demand curve in the long run.
The word stagflation describes a situation in which:
a. a higher price level occurs simultaneously with higher employment b. a lower price level occurs simultaneously with economic growth. c. a higher price level occurs simultaneously with lower aggregate output. d. a lower price level occurs simultaneously with federal budget deficits. e. a higher price level occurs simultaneously with federal budget surpluses.