An individual's ________ surplus is the area ________ the ________ curve and ________ the ________ up to the quantity ________
A) consumer; above; supply; below; market price, produced.
B) producer; above; supply; below; market price, produced.
C) consumer; below; demand; above; choke price, purchased.
D) producer; below; supply; choke price, below; the producer sells.
B
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In the above figure, point E represents the level of real GDP at which planned saving equals planned investment. At point C
A) changes in inventories cannot be determined. B) unused industrial capacity exists in the economy. C) unplanned inventories increase. D) unplanned inventories decrease.
Markets in which the Herfindahl-Hirschman index ________ are considered highly concentrated
A) is 1,000 B) is zero C) is between 1,000 and 1,800 D) is above 1,800
Which component of GDP is most likely to be negative?
A. Net exports B. Gross private domestic investment C. Government purchases D. Imports
Which of the following is the largest contributor to the growth of labor productivity in the United States?
A. Technological advance. B. Education and training of labor. C. Economies of scale. D. Improved resource allocation.