If the demand for tennis shoes decreases and a firm's supply curve is upward sloping, then:
A. producer surplus decreases.
B. producer surplus does not change.
C. producer surplus increases.
D. producer surplus may either increase or decrease.
Answer: A
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Unlike the Bank of Canada, the Bank of France, the Bank of England, and other central banks in democratic market economies, the Federal Reserve System is owned by the government
Indicate whether the statement is true or false
Which of the following would contribute to a United States current account surplus?
A. The United States makes a unilateral tariff reduction on imported goods. B. General Motors pays a dividend to a Swiss stockholder. C. The United States cuts back on American military personnel stationed in Germany. D. Russian vodka becomes increasingly popular in the United States.
The slope of the production function while holding capital fixed is
A. the labor-capital ratio. B. the average product of labor. C. the marginal product of capital. D. the capital-labor ratio. E. the marginal product of labor.
Why is the value of the sales of stocks and bonds excluded from GDP?
What will be an ideal response?