Refer to the graph shown. An effective price floor at Pf imposes a deadweight loss shown by:
A. rectangles B and C.
B. rectangle B and triangle E.
C. triangles E and F.
D. rectangles A and D.
Answer: C
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In the figure above, how much is the consumer who buys the 5,000th pizza willing to pay for that pizza?
A) $15 B) $10 C) $12 D) $22.50 E) $5
An individual with good job prospects who is between jobs is best considered as
A) structurally unemployed. B) cyclically unemployed. C) not in the labor force. D) frictionally unemployed.
Disney World decides to charge local residents a lower price than other park visitors. This would fall under which field of economics?
A. Macroeconomics B. Public policy C. Customer service D. Microeconomics
Share distribution of income is the relative division of total income among:
A. nationality groupings. B. income groupings. C. capitalists, workers, and landowners. D. socioeconomic groupings.