Refer to Figure 4-6. What is the value of producer surplus after the imposition of the price floor?
A) $3,000 B) $3,600 C) $4,200 D) $4,500
A
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The shifting or returning of government economic functions or services to the private sector of the economy is known as
a. laissez-faire. b. privatization. c. deregulation. d. downsizing.
An organization of employees that has the legal right to bargain with employers about wages and working conditions is called a
A) labor union. B) guild. C) monopsony. D) closed shop.
The practice of keeping high-risk assets on a bank's books while removing low-risk assets with the same capital requirement is known as
A) competition in laxity. B) depositor supervision. C) regulatory arbitrage. D) a dual banking system.
A demand curves describes
a. the amount of units a consumer will purchase at a given price b. the amount of units a producer will sell at a given price c. both the amount of units that a consumer will buy and a producer will produce at a given price d. the amount of units supplied given a change in prices