The above figure shows the market for DVDs. The government decides that all citizens deserve to watch affordable DVDs so a price ceiling of $12 per DVD is placed on DVDs. After this price ceiling is in effect, deadweight loss equals ________
A) $1,600,000
B) $200,000
C) $800,000
D) $1,800,000
E) $400,000
C
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Technological change is the key to sustaining economic growth
Indicate whether the statement is true or false
Which of the following is a microeconomic concern?
A) the rate of economic growth in the United States B) the current unemployment rate in the United States C) consumer behavior D) national output of the United States
In intra-industry trade, the level of worker productivity is determined by
a. how firms engage in specific learning about specialized products, including taking advantage of economies of scale. b. how firms take advantage of climate or geography. c. how firms take advantage of the general level of education or skill. d. how firms take advantage of technological advances.
If a consumer prefers Apples to Bananas and prefers Bananas to Citrus Fruit, in order to satisfy assumptions about preferences she has to prefer
A) Bananas to Apples. B) Citrus Fruit to Bananas. C) Apples to Citrus Fruit. D) Citrus Fruit to Apples.