Economists working for Uber, along with economists from the University of Oxford and the University of Chicago, estimated the consumer surplus attributed to Uber. For the 4 largest U.S. markets, these economists estimated that the total consumer surplus
from Uber in 2015 was
A) almost $0.
B) $13.30 per customer.
C) $2.88 billion.
D) 6.76 billion.
Answer: C
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Keynes' theory of consumption predicts that the aggregate saving rate
A) increases as society becomes richer. B) falls as society becomes richer. C) is constant in the long-run. D) falls with higher incomes in a cross-section of income.
If average product is increasing, then marginal product
A. cannot be decreasing. B. must be increasing. C. must be greater than average product. D. must be less than average product. E. both a and c
If the price of doughnuts decreases, then one would expect the:
A. quantity of doughnuts supplied to decrease. B. quantity of doughnuts supplied to increase. C. supply of doughnuts to decrease. D. supply of doughnuts to increase.
The owners of a corporation are
A) the employees of the firm. B) the shareholders. C) completely in control of the firm. D) taxed only once.