Suppose the most you would be willing to pay for a plane ticket home is $250. If you buy one for $175, then your economic surplus is:
A. $0.
B. $175.
C. $250.
D. $75.
Answer: D
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If supply increases, the equilibrium price will rise and the equilibrium quantity will fall.
Answer the following statement true (T) or false (F)
Holding all other factors constant, income earned from capital is more unequally distributed than income earned from labor
Indicate whether the statement is true or false
Which of the following is the clearest evidence of employment discrimination against minority employees?
a. The average wages of minority workers are lower than the average wages of whites. b. The average wages of minority employees are lower than the average wages of whites with similar productivity characteristics. c. The mean number of years of schooling of minority workers is lower than that of whites. d. The average hours worked by minority employees exceeds the hours worked by whites.
According to the Keynesian view of macroeconomics, what should be the role of the government as far as economic policy?
Select one: a. The government should keep the growth rate of the money supply stable. b. The government should maintain a fixed interest rate. c. The government should try to raise the AS curve. d. The government should try to stabilize the AD curve.