The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). If the price were zero, consumer surplus equals
A) $301.00.
B) $924.50.
C) $1,225.50.
D) $1,250.00.
D
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The potential for redistribution cannot be exaggerated
Indicate whether the statement is true or false
Mason and Chloe each produce two goods. According to the principle of comparative advantage, the total output produced by these individuals will be greatest
A) if Chloe produces both goods and Mason produces nothing. B) if each good is produced by the individual who has the lower opportunity cost of producing that good. C) if each good is produced by the individual who has the higher absolute cost of producing that good. D) if Mason produces both goods and Chloe produces nothing.
An increase in production costs will shift? the:
A. aggregate demand curve.' B. shortrun aggregate supply curve. C. longrun aggregate supply curve. D. none of the above.
When the MPC is 0.8 and t is 0.4, then the government spending multiplier is about -1.54.
Answer the following statement true (T) or false (F)