In the figure above, consumer surplus at the price that maximizes the profit for an unregulated, single-price monopolist is the area of
A) rectangle 0heb.
B) triangle abe.
C) triangle eig.
D) rectangle 0hgd.
B
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An unregulated paint factory that pollutes a river results in ______ and _____
A. overproduction; a price that exceeds the marginal benefit from the good B. underproduction; a price that equals the marginal benefit from the good C. the efficient quantity produced; a marginal benefit equal to the mar-ginal social cost D. an inefficient quantity produced; a marginal benefit below the mar-ginal social cost
Greater entrepreneurship in the economy will shift the aggregate:
a. supply curve rightward. b. supply curve leftward. c. demand curve rightward. d. demand curve leftward.
Most monetarists favor:
a. frequent changes in the growth rate of the money supply to avoid inflation. b. placing the Federal Reserve under the Treasury. c. a steady, gradual shrinkage of the money supply. d. a constant increase in the money supply year after year equal to the potential annual growth rate in real GDP.
In the United States, the unemployment rate for blacks is roughly the same as the unemployment rate for whites
a. True b. False Indicate whether the statement is true or false