Sandy's uncompensated demand for candy is given by the equation Q = 15/p, where Q is the quantity of candy and p is the price. When the price of candy rises from $1 to $3, the change in consumer surplus is
A) $16.5.
B) -$20.
C) -$15.
D) $15.
A
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Use the figure below to answer the following question.
What is the amount of deadweight loss after the government imposes the excise tax on the market?
A. $4 B. $36 C. $32 D. $2
It is interesting to note that several countries around the world actually make voting compulsory.According to the CIA's World Factbook, as of August 2013, voting is mandatory in 22 countries
Although this law is not enforced in many of these countries, in several nations citizens who do not comply are subject to fines. Give arguments for and against making voting compulsory.
Senior citizens can buy movie tickets at a lower price than the general public. This is an example of
A) age discrimination. B) demand discrimination. C) price discrimination. D) price differentiation.