Total surplus in a market can be measured as the area below the supply curve plus the area above the demand curve, up to the point of equilibrium
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the table above. What is the average monthly wage?
A) $612 B) $650 C) $558 D) $450
The marginal cost curve:
a. Declines initially as output increases and rises with further increases in output b. Is equal to the average variable cost curve c. Rises initially as output increases and declines with further increases in output d. Is always constant
Countries with more economic freedom tend to invest a ____ share of their GDP and the productivity of that investment is ____ than for countries that are less free. (Fill in the blanks.)
a. larger; higher b. larger; lower c. smaller; higher d. smaller; lower
Which of the following is not included as "net income" in the U.S. balance of payments?
a. Income paid by a U.S. company to foreign consultants. b. Profits earned by U.S. companies from foreign operations. c. Foreign dividends received by U.S. residents. d. Profits earned by U.S. companies from foreign operations and reinvested abroad. e. All the above are includedas net income in the U.S. balance of payments.