In the figure above, if the market is at equilibrium, then the total consumer surplus equals the area ________ and the total producer surplus equals the area ________
A) A; B
B) B; C
C) C; B
D) A; C
E) A + B; C
A
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The most significant expansion of Medicaid since its inception occurred in 1997 and is referred to as
a. SCHIP. b. SHIP. c. TANF. d. AFDC.
Refer to the above graph. A decrease in supply would best be reflected by a change from:
a. Point 2 to point 1 b. Point 3 to point 6 c. Point 5 to point 2 d. Point 5 to point 1
As a result of specialization and trade, individuals no longer have to make choices about how to spend their incomes.
Answer the following statement true (T) or false (F)
Suppose that you borrow $10,000 for one year, and at the end of the year, you must repay $10,450. Also, during that year inflation was 2.5%. The real interest rate is
A. 12.0 percent. B. 7.0 percent. C. 2.0 percent. D. 4.5 percent.