What is the definition of producers' surplus?
A) price received minus maximum selling price
B) maximum selling price minus price received
C) price received minus minimum selling price
D) highest price minus lowest price
E) none of the above
C
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Using rate-of-return analysis to determine who benefits and who does not benefit from the current structure of Social Security is
A. embraced by all. B. embraced not only by financial planners but also by most economists. C. rejected by those that view the program as social insurance rather than as an investment. D. rejected by everyone.
In 2010, President Obama proposed more generous tax write-offs for businesses that invest in additional equipment in order to stimulate investment spending.
Answer the following statement true (T) or false (F)
Around 1973, the U.S. economy experienced a significant ________ in productivity growth, coupled with a ________ in the growth of real wages.
a. pickup, pickup b. slowdown, slowdown c. slowdown, pickup d. pickup, slowdown
Stricter laws and regulations to protect intellectual property rights
A) will help to create a more successful market system. B) will only benefit those companies whose intellectual property rights have in the past been ignored. C) will tend to have little impact on an economy since intellectual property is not tangible. D) will create a stronger and more successful black market for intellectual property.