Refer to the figure above. The triangular region BEC shows the ________ due to the price ceiling
A) gain in consumer surplus
B) loss in consumer surplus
C) gain in producer surplus
D) loss in producer surplus
D
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If the Fed sells U.S. government securities, the
A) money supply decreases, and the money supply curve shifts to the right. B) money supply decreases, and the money supply curve shifts to the left. C) money supply increases, and the money supply curve shifts to the left. D) money supply increases, and the money supply curve shifts to the right.
For a person who owns and operates an automobile, insurance premiums are a __________ and maintenance and repairs are a __________
a. revenue; cost b. fixed cost; fixed cost c. variable cost; variable cost d. variable cost; fixed cost e. fixed cost; variable cost
How does consumer use (transactions) compare between credit and debit cards?
A. Credit cards are used for substantially more transactions than debit cards. B. Debit cards are used for substantially more transactions then credit cards. C. Both cards are used for about the same number of transactions.
Having more money and a bigger house than other people is the key to happiness. Which economic approach is most consistent with this idea?
A. Engineering B. Behavioral C. Traditional D. Keynesian