The figure above shows the market for milk. If the efficient quantity of milk is produced, the consumer surplus is
A) $100.
B) $400.
C) $200.
D) $600.
C
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The entry of China and other developing countries into the global economy ________ the wages of low-skilled workers and ________ the wages of high-skilled workers in the United States
A) lowers; lowers B) raises; raises C) raises; lowers D) lowers; raises
A decrease in the price level in an economy will _____
a. increase the real value of dollar-denominated assets b. shift the aggregate expenditure line downward c. decrease the equilibrium level of output demanded d. cause an upward movement along the aggregate demand curve e. shift the aggregate demand curve leftward
An increase in consumers' incomes raises the equilibrium price and quantity of fine clothing
Indicate whether the statement is true or false
When the federal government spends more money than it receives in __________, it creates a need to borrow money, which may be fulfilled internationally and impacts the nation’s trade balance.
a. taxes b. sales c. interest d. income