Any dollar amount received by a seller above the marginal cost of production is known as a
A. producer surplus.
B. willingness to accept.
C. consumer surplus.
Ans: A. producer surplus
You might also like to view...
The sum of personal consumption expenditure, investment expenditure, government expenditure, and net export expenditure on the total amount of real output in the economy in a given period of time is called:
A) potential GDP. B) aggregate expenditure. C) real money balances. D) none of the above.
An autonomous increase in net exports for any given inflation rate ________
A) would add directly to planned expenditures B) would raise the equilibrium level of output C) causes the aggregate demand curve to shift to the right D) all of the above E) none of the above
Jim is haggling with a car dealer on the price of a used car. If the dealer is getting a bonus per sale made, in addition to the commission, the storekeeper's
a. Disagreement value increases b. Eagerness to agree increases c. Disagreement value decreases d. Both B&C
Tax incidence refers to
a. what product or service the tax is levied on. b. who bears the tax burden. c. what sector of the economy is most affected by the tax. d. the dollar value of the tax revenues.