Moving production from a high-cost producer to a low-cost producer will
a. lower total surplus.
b. raise total surplus.
c. lower producer surplus.
d. raise producer surplus but lower consumer surplus.
b
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An outright sale of government securities by the Fed
A) permanently increases bank reserves. B) temporarily increases bank reserves. C) permanently reduces bank reserves. D) temporarily reduces bank reserves.
The U.S. basic needs threshold of poverty is determined by the
a. President of the United States b. United States' Congress c. Department of Commerce d. Bureau of Labor Statistics e. United Nations
Which of the following has been an effect of globalization and a large trade deficit?
a. Increased wages in the tradable sector. b. Increased employment in the tradable sector. c. Decreased employment in the tradable sector. d. Increased wages in the immigrant sector.
A price restriction that tells suppliers the minimum price they can sell their goods for is also known as
A) a price ceiling. B) a quota. C) a price floor. D) deadweight loss.