The above figure shows the U.S. market for 1 carat diamonds. Area C is the
A) decrease in consumer surplus due to the import quota.
B) importers' profit from the quota.
C) deadweight loss from the import quota.
D) increase in producer surplus due to the import quota.
E) gain in total surplus due to the import quota.
B
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If the unemployment rate is 8 percent, this means: a. 8 percent of the population is unemployed
b. 8 percent of the population over age 16 is unemployed. c. 8 percent of the labor force is unemployed. d. the number of unemployed persons equals 8 percent of the employed persons.
Suppose the annual growth rate of real GDP for the nation of Vicuna is 8%, the growth rate of velocity is 0%, and the growth rate of the money supply is 12%
a. What is the current rate of inflation? b. What will happen to the inflation rate if the growth of the money supply increases to 16%? c. What will happen to the inflation rate if the growth of the money supply increases to 16%, and at the same time, the growth rate of velocity increases to 4%?
An advantage of charter schools is they _____
a. educate students at a lower cost than traditional public schools b. increase the amount of competition in the public school system c. have innovative curriculums that lead to rapid student improvement in most cases d. a and b
What did Malthus say about population growth?
A) Population growth is the key to a nation's economic growth. B) Population growth is not a problem if food production keeps up, and Malthus predicted that it would. C) Population growth is a huge problem if housing and medical care don't also increase. D) The population would grow faster than food supplies, which would be a recipe for disaster.