Use the figure below to answer the following question.
If a price ceiling in this market is set at P1, producer surplus is represented as which area on the graph?
A. b.
B. c.
C. c + b + d.
D. b + c.
Answer: B
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________ is important because it effects how people participate in politics and how individuals and institutions interact
a. Individualistic political culture b.Traditionalistic political culturee.Politics c. Moralistic political culture d. Political culture
Which of the following statements is true?
A) Labor markets in the United States are frictionless. B) The market wage rate is always below the equilibrium wage rate in a frictionless labor market. C) There is always some unemployment in a frictionless labor market. D) Both employees and employers have complete information about each other in a frictionless labor market.
A rival good
A) is one that is used up as it is consumed. B) is one that rival firms are trying to obtain. C) is exclusive. D) cannot be shared.
The characteristics that money should have include:
A. portability, durability, and flexibility. B. durability, flexibility and stability. C. durability, portability, and non-homogeneity. D. scarcity, portability, and divisibility.