If the supply curve is S and the demand curve shifts from D to D', what is the increase in producer surplus due to new producers entering the market?
a. $625
b. $2,500
c. $3,125
d. $5,625
Answer: a. $625
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If a nation is currently operating at a point inside its production possibilities curve, it
A. can increase the output of one good without decreasing the output of the other good. B. has fully employed resources. C. has no inefficiently employed resources. D. is operating at full potential.
Explain the theory of purchasing power parity
What will be an ideal response?
According to a recent study, college students who graduate during an economic recession end up accepting jobs that, on average, pay ________ less than the jobs accepted by students who graduate during economic expansions, and will continue to earn
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For a given level of the money wage, an increase in the price level will cause the
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