The market supply function is P = 10 + Q and the market demand function is P = 70 - 2Q. What is the change in consumer surplus associated with a minimum floor price of $40?
A) -$25
B) -$150
C) -$175
D) -$200
C
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If the coefficient a in the new classical expression for short-run aggregate supply were equal to zero,
A) aggregate output would always be at its full-employment level. B) the short-run aggregate supply curve would slope down. C) the short-run aggregate supply curve would be a horizontal line. D) aggregate output would only differ from its full-employment level if the actual price level did not equal the expected price level.
US Exports After staying around 1.35 US dollars per Euro for years, the exchange rate fell below 1.25 US dollars to a euro during the summer of 2014 . What affect does this have US exports to Europe?
A cost associated with an economic depression is
a. the loss of goods and services that are not produced. b. the loss of individual income to unemployed workers. c. a possible deterioration of working skills of unemployed workers. d. All of these.
Pat calculates that for every extra dollar she earns, she owes the government 33 cents. Her total income now is $35,000 . on which she pays taxes of $7,000 . Determine her average tax rate and her marginal tax rate
a. Her average tax rate is 33 percent and her marginal tax rate is 20 percent. b. Her average tax rate is 20 percent and her marginal tax rate is 33 percent. c. Her average tax rate is 20 percent and her marginal tax rate is 20 percent. d. Her average tax rate is 33 percent and her marginal tax rate is 33 percent.