Assume the demand curve is line AD. If price is CB, then in the graph above, consumer surplus is bounded by
A. CAD.
B. CBED.
C. BAE.
D. None of these choices are true.
C. BAE.
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In the new Keynesian view, the larger the proportion of firms in the economy with sticky prices,
A) the steeper the SRAS curve will be. B) the flatter the SRAS curve will be. C) the greater the increase in the price level for a given shift in the AD curve. D) the less effective is fiscal policy in increasing output.
Booms and recessions are transmitted to other countries
a. True b. False Indicate whether the statement is true or false
Bill operates a boat rental business in a competitive industry. He owns 10 boats and pays $1,000 per month on the loan that he took out to buy them. He rents each boat for $200 per month. The variable cost for each boat rental is $50 . In the off season, Bill should
a. operate his business as long as he rents at least 7 boats per month. b. operate his business as long as he rents at least 1 boat per month. c. operate his business as long as he rents all 10 boats each month. d. raise the price he charges per boat rental.
Which is of the following is one difficulty economists face that some other scientists do not?
a) Unlike other sciences, economic studies must include the largest economic player, the government. b) Economists unfortunately receive less government funding than other scientists. c) Corporations are reluctant to disclose necessary information for economic research. d) Experiments are often difficult to conduct in economics.