If a price ceiling of $8 were placed in the market in the graph shown, which area represents deadweight loss?





A. F + G

B. B + D

C. E

D. B + D + F + G


B. B + D

Economics

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Over the period 1960-2000, France grew ________ than the United States economy

A) 2 % slower. B) 2% faster. C) more than 2% slower. D) less than 2% faster. E) more than 2% faster.

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Of the following countries, which grew most slowly, in terms of real GDP per person, over about the last 120 years?

a. Brazil b. Mexico c. China d. United States

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The demand for a good is inelastic with respect to price if the price elasticity of demand is:

A. less than one. B. greater than one. C. equal to one. D. equal to negative one.

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The main problem with using groundwater to increase water supplies is that

a. Groundwater tends to be contaminated with pesticides b. Groundwater is normally found in countries that already have sufficient supplies c. Groundwater aquifers are being rapidly depleted d. Groundwater tends to be too salty e. Groundwater tends to be too expensive

Economics