Refer to the figure above. The region PCCAF shows the ________ after the imposition of the price ceiling
A) government revenue
B) consumer surplus
C) producer surplus
D) deadweight loss
B
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Use the following graph to answer the next question.
If AD1 shifts to AD2, then the equilibrium output increases from ________.
A. Q1 to Q2 while the price level rises from P1 to P2 B. Q1 to Q2 while the price level falls from P2 to P1 C. Q1 to Q3 while the price level rises from P1 to P2 D. Q1 to Q3 while the price level falls from P2 to P1
What is unplanned investment? How does it occur?
What will be an ideal response?
A newspaper headline asserts: "Falling Demand Pushes Down Housing Prices." This headline
A. incorrectly implies that more housing will be demanded at higher prices. B. correctly implies that a decrease in demand will decrease the market clearing price. C. incorrectly implies that the price of housing will rise when demand increases. D. incorrectly implies that the demand for housing can change, whereas in fact only the quantity of housing demanded can change.
A tax added to the camping fee at national parks that is used to maintain and upgrade camping facilities at national parks is a tax based on
A. vertical equity. B. the benefits-received principle. C. horizontal equity. D. the ability-to-pay principle.