If producing a soccer ball costs Jake $5, and he sells it for $40, his producer surplus is $45
a. True
b. False
Indicate whether the statement is true or false
False
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Both increases in the price level and increases in real GDP will decrease the demand for money
Indicate whether the statement is true or false
At one point along a PPF, 50 tons of coffee and 100 tons of bananas are produced. At another point along the same PPF, 30 tons of coffee and 140 tons of bananas are produced. The opportunity cost of a ton of coffee between these points is
A) 7/5 of a ton of bananas per ton of coffee. B) 1/2 of a ton of bananas per ton of coffee. C) 5/7 of a ton of bananas per ton of coffee. D) 2 tons of bananas per ton of coffee.
How does the Fed reach its target for the federal funds rate?
A) by changing the discount rate B) by changing reserve requirements C) by adjusting the level of reserves D) by directly setting the federal funds rate
The CPI is calculated
a. weekly. b. monthly. c. quarterly. d. yearly.