Figure 3-19
Refer to . If the government mandated a price increase from Pe to a higher price, then
a.
total surplus would decrease.
b.
consumer surplus would increase.
c.
total surplus would increase, since producer surplus would increase.
d.
total surplus would remain unchanged.
a
You might also like to view...
Of the emerging changes in the field of international relations, which is the most far-reaching and critical one?
a. increasing gaps in wealth b. erosion of American power c. role of the sovereign state d. spread of democracy
A company can hire non-union workers, but a condition of their employment is that they must join the union within their first 90 days on the job. This is an example of a
A) right-to-work law. B) closed-shop. C) union shop. D) voluntary craft union.
Answer the following statements true (T) or false (F)
1) For an open mixed economy, the equilibrium level of GDP is determined where S a + I g + X = T + G. 2) Equal increases in government expenditures and tax collections will leave the equilibrium GDP unchanged. 3) A $10 billion decrease in taxes will increase the equilibrium GDP by more than would a $10 billion increase in government expenditures. 4) A lump-sum tax causes the after-tax consumption schedule to be flatter than the before-tax consumption schedule.
The demographic transition view alleges that:
A. the DVCs must first accept the use of birth control techniques to increase their standards of living. B. population growth will only decline if mortality rates exceed birth rates. C. if incomes first rise, population growth will then decline. D. population growth has no bearing on a nation's per capita income.