Use the table below to answer the following question.UnitsMaximum Willingness to PayMarket Price1$14$821283108488568648What is the value of consumer surplus in the table above?
A. $12
B. $6
C. $44
D. $54
Answer: B
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In order to correct the problems associated with external costs,
A) the signals given to the economy must change so that decision-makers will take into account all the costs of their actions. B) the government must take over production of industries that are responsible for most of the pollution. C) standards must be established that make it illegal to pollute. D) the prices of all goods must be raised so people will consume less of the world's resources.
The ratio of the change in consumption to the change in disposable income is the
A. marginal propensity to save. B. marginal propensity to consume. C. average propensity to save. D. average propensity to consume.
Suppose stock A sells for $50 per share and pays dividends of $2 per share per year. Stock B sells for $100 per share and pays dividends of $4 per share per year. Through the process of arbitrage, we would expect the price of:
A. stock A to fall and/or the price of stock B to rise. B. stock A to rise and/or the price of stock B to fall. C. both stocks to rise or fall together. D. neither stock to change.
If a bank has excess reserves of $5,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent, then the bank has actual reserves of
A) $11,000. B) $20,000. C) $21,000. D) $26,000.