Consumer surplus can be measured as the area between the demand curve and the supply curve
a. True
b. False
Indicate whether the statement is true or false
False
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The members of Federal Reserve district bank boards of directors who are leaders in industry, commerce, and agriculture are known as
A) Class A directors. B) Class B directors. C) Class C directors. D) Class D directors.
Which of the following accurately describes an effect of Hurricane Harvey on GDP?
A) GDP would decrease reflecting the costs of cleanup. B) GDP would increase reflecting the costs of cleanup. C) GDP would increase reflecting the decrease in production that occurred during the storm and the productive capacity lost in the storm. D) GDP would increase well-being.
Refer to the above table. At a wage rate of $23 per worker, the firm will choose to employ:
A. 2 workers
B. 3 workers
C. 4 workers
D. 5 workers
The economic theory of regulation treats politicians as:
A. public-spirited individuals who work for public welfare. B. self-interested individuals who benefit themselves by supplying legislation. C. corrupt individuals who sell contracts to the highest bidders. D. people who only represent the minority segment of the population.