Refer to Table 16-3. If Julie charges $10 per hour, what is the value of the consumer surplus received by Dawn?
A) $2 B) $10 C) $12 D) $22
A
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If the marginal propensity to save is 0.1, then a $10 million decrease in disposable income will
A) increase consumption by $9 million. B) decrease consumption by $1 million. C) increase consumption by $1 million. D) decrease consumption by $9 million.
How did the global savings glut in the 2000s affect the U.S. current account balance?
A) It caused it to decline by increasing the value of the dollar. B) It caused it to decline by reducing the value of the dollar. C) It caused it to increase by increasing the value of the dollar. D) It caused it to increase by reducing the value of the dollar.
What characteristic is shared by both sole proprietorships and partnerships?
a. They both tend to be large businesses. b. They both face unlimited liability. c. They both have just one owner. d. They both face limited liability. e. They both have just two owners.
When the supply of a good decreases and the demand for the good remains unchanged, consumer surplus
a. decreases. b. is unchanged. c. increases. d. may increase, decrease, or remain unchanged.