Which of the following is not true concerning consumer surplus?
a. It is qraphically the area under the demand curve and above the market price.
b. It does not exist in equilibrium.
c. A leftward shift of the supply curve will decrease consumer surplus.
d. A rightward shift of the supply curve will increase consumer surplus.
a
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Based on the data in the table above, what is the value of M2?
A) $2,950 billion B) $4,187 billion C) $7,978 billion D) $8,587 billion
Tobin's model of the speculative demand for money improves on Keynes's analysis by showing that
A) the speculative demand for money is interest insensitive. B) the transactions demand for money is interest insensitive. C) people will hold a diversified portfolio. D) people will hold money or bonds but not both.
Bans or quotas that limit the use of common resources are straightforward public-policy approaches to solving the problem of overuse if:
A. the community agrees to aid in its enforcement. B. countries have the resources to enforce them. C. the community affected participates in setting the punishments for breaking the policy. D. None of these statements is true.
Technological improvement (e.g., better capital equipment) will result in a leftward shift of the marginal revenue product of labor
Indicate whether the statement is true or false