Figure 3-18
Refer to . When the price falls from P1 to P2, which area represents the increase in consumer surplus to new buyers entering the market?
a.
ABD
b.
ACF
c.
BCDE
d.
DEF
d
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Which of the following is TRUE of the current account balance?
A) Monetary expansion has no effect on the current account balance. B) Monetary expansion decreases the current account balance. C) Fiscal expansion increases the current account balance. D) Fiscal expansion has no effect on the current account balance. E) Monetary expansion increases the current account balance.
Economists can be college professors or business analysts. If there is an increase in businesses' need for economic analysis,
a. the wage of economists will tend to decrease. b. colleges will have to pay less money to hire economists as professors. c. more economists will decide to become professors. d. fewer economists will decide to become business analysts. e. All of the above.
An example of a good that is rival in consumption is:
A. public utilities. B. a hamburger. C. national defense. D. radio signals broadcast over the air.
Which of the following demographic groups in the U.S. has the highest unemployment rates?
A. college graduates B. white working-age people C. African-American teenage males D. all working-age people with a high school diploma but no college