The sum of consumer surplus and producer surplus is called economic surplus
Indicate whether the statement is true or false
TRUE
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If women are not allowed to vote or inherit wealth but men are, this is an example of
A. A gender trap. B. An inequality trap. C. The liquidity trap. D. The disadvantaged trap.
One way to assure that poor people will have a plentiful supply of affordable housing available to them is by imposing rent ceilings
Indicate whether the statement is true or false
Explicit costs
a. do not require an outlay of money by the firm. b. enter into the accountant's measurement of a firm's profit. c. enter into the economist's measurement of a firm's profit. d. Both b and c are correct.
The business cycle dating committee determines when peaks and troughs occur by looking at
A. mainly at real GDP figures. B. mainly at the unemployment rate. C. data from our economy and comparing it to data from other major nations. D. mainly at employment, industrial production, personal income, and manufacturing and trade revenue.