Producer surplus is the amount a seller receives for a good or service

Indicate whether the statement is true or false


FALSE

Economics

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The long-run average annual growth of real GDP per person is the United States is approximately ________ percent.

A. one B. seven C. five D. two

Economics

When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.

A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline

Economics

Which of the following is true of the antitrust laws in the United States? They are

A) designed to make the business environment more equitable. B) designed to promote a competitive economy. C) deliberately written in a way to make clear to all what is and what is not allowed. D) deliberately written in a language to promote cooperation among businesses.

Economics

Production possibilities frontiers curve when they are charted on a graph because they show:

a) the underutilization of resources b) the maximum output of goods and services c) the increasing costs resulting in increasingly less output d) the technological level of the economy's productivity

Economics