On a graph, the area below a demand curve and above the price measures
a. producer surplus.
b. consumer surplus.
c. deadweight loss.
d. willingness to pay.
b
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The Federal Reserve has ________ responsibility for supervising financial institutions.
a. some b. no c. full d. exclusive
Which of the following examples would most likely provide buyers with more of a differentiated product because of excess capacity?
a. a barley farm b. a book store c. a steel manufacturer d. a shrimp fishery
If the price of a good is expected to fall in the future, its
A. demand curve will shift to the right. B. supply curve will shift to the right. C. demand curve will shift to the left. D. b) and c).
The ________ specializes in making long-term loans for capital investment projects that do not have private financial support
A) International Monetary Fund B) Federal Reserve Bank C) World Bank D) European Central Bank