Joe's demand for spring water can be represented as p = 10 - Q (where p is measured in $/gallon and Q is measured in gallons). He recently discovered a spring where water can be obtained free of charge. His consumer surplus from this water is
A) $0.
B) $50.
C) $100.
D) unknown based upon the information provided.
B
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In an economy, there is $200 million in currency held outside banks, $100 million in traveler's checks, $250 million in currency held inside the banks, $300 million in checking deposits, and $600 million in savings deposits
The value of M1 is ________. A) $750 million B) $1,200 million C) $1,150 million D) $600 million
If net foreign investment in the United States is positive, how must national saving and domestic investment be related? (Assume that the capital account is zero and net transfers are zero.)
A) Domestic investment can be greater than or less than national saving. B) Domestic investment must be greater than national saving. C) Domestic investment must be less than national saving. D) Domestic investment and national saving must also be positive.
All of the following took place during the economic crisis that began in 2007 EXCEPT:
A) the financial system was disrupted B) large portions of the U.S. economy were cut off from the funds they needed to thrive C) there was a devastating decline in the production of goods and services throughout the economy D) unlike households, most businesses still had easy access to funds
Elimination of the corporate income tax would ________ government saving and probably ________ private business saving
A) increase, increase B) increase, decrease C) decrease, increase D) decrease, decrease