Figure 3-20
Refer to . If 110 units of the good are being bought and sold, then
a.
the cost to sellers is equal to the value to buyers.
b.
the value to buyers is greater than the cost to sellers.
c.
the cost to sellers is greater than the value to buyers.
d.
producer surplus is greater than consumer surplus.
c
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When the price system fails to generate an efficient allocation of resources
A) the market will always correct it. B) consumers will spend less. C) business will produce more. D) too few or too many goods will be produced.
Which of the following hinders economic freedom?
a. Lower taxes b. Regulations on emissions from automobiles c. International trade d. Secure private property rights e. A democratic government
Which of these is true of blockholders?
A. They add value to the corporation when they extract private benefits. B. They should not be managers of the firm. C. They participate more than small shareholders in the governance process because they internalize more of the benefits. D. They are superior to institutional investors in their ability to reduce agency costs.
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.