The amount of money one would have to take from a consumer to harm her by as much as the price increase is called
A) compensating variation.
B) structured settlement.
C) equivalent variation.
D) consumer surplus.
C
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The effect of antidumping laws is to
A) put a floor on foreign prices. B) lower consumer surplus in the importing country. C) encourage domestic firms to allege dumping even when it might not be true. D) All of the above.
A higher price level causes us to
A) move up along an aggregate demand curve. B) move down along an aggregate demand curve. C) shift the aggregate demand curve to the right. D) shift the aggregate demand curve to the left.
Refer to the information provided in Table 6.1 below to answer the question(s) that follow. Table 6.1Number of Hamburgers per DayTotal UtilityMarginal Utility130?252?367?476?5?4Number ofSodas per DayTotal UtilityMarginal Utility120?235?347?457?5?7Refer to Table 6.1. The total utility of five sodas per day is
A. 35. B. 64. C. 92. D. indeterminate from this information.
Which of the following provides a positive externality?
a. smog b. inoculating children against measles c. hamburgers d. litter e. an increase in your earnings