Refer to Figure 4-4. What is the value of consumer surplus at a price of $18?
A) $60 B) $120 C) $180 D) $240
A
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If average labor productivity increases while population and the number of employed workers remain constant, then output per person:
A. increases. B. remains constant. C. decreases. D. may increase or decrease.
Demonstrating how an economic variable changes from one year to the next is best illustrated by a
A) time-series graph. B) scatter diagram. C) Venn diagram. D) linear graph. E) cross-section graph.
Beth has moved into a new house. Most people living in her neighborhood go for a jog early in the morning. Although Beth had always been a late riser, she too started getting up early for a jog after moving into her new house
This is an example of a(n) ________. A) moral hazard B) adverse selection C) peer effect D) negative externality
Discount rate policy is ________ tool of the Fed in its attempts to influence ________, and thus the money supply
A) an unnecessary, the reserve-holding ratio B) an unnecessary, high-powered money C) a necessary, the reserve-holding ratio D) a necessary, high-powered money