Refer to the graph shown. With an effective price floor at Pf, total surplus is reduced by:
A. rectangles B and C.
B. triangles E and F.
C. rectangles A and D.
D. rectangle B and triangle E.
Answer: B
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Which of the following is not a characteristic of perfect competition?
a. Many small buyers. b. Different firms sell products with different features. c. Ease of entry into and exit from the market. d. Many small sellers.
The labor force participation rate of women in the United States has been
a. increasing for several decades and this has strongly affected GDP. b. decreasing for the past several decades after increasing dramatically in the early 1900s. c. approximately constant during the last three decades. d. decreasing since the early 1900s.
Which of the following would best be classified as a complement for new houses/homes?
A. Lumber or steel B. Construction equipment C. Mortgage loans D. Rental apartments
The coupon rate of a bond is equal to
A) the coupon payment. B) the interest payment. C) the interest rate. D) the face value.