Refer to Figure 9.8. Under free trade in sugar, domestic producer surplus will be
A) $100.
B) $175.
C) $10,000.
D) $25,000.
E) $30,625.
C
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Entrepreneurs are people who:
A. entertain the workers. B. engage exclusively in business travel. C. create new economic enterprises. D. run businesses on a day-to-day basis.
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Social Security payments:
A. continue to cause the elderly to lose income over time, since payments are not adjusted for inflation. B. cause concern for retirees, due to the increase in life expectancies. C. hold their real value because they are adjusted for inflation. D. are the biggest drain on the retirees budget each year.
If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $100 per unit, then the marginal revenue product for your school from hiring that instructor that semester is:
A. $100. B. $300. C. $30,000. D. $60,000.