U.S. producer surplus ________ when the United States imports a good and U.S. producer surplus ________ when the United States exports a good
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
C
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Which of the following statements is true?
A) An increase in the money wage rate shifts the AS curve rightward. B) A fall in the price level shifts the AS curve leftward. C) A decrease in potential GDP decreases aggregate supply and shifts the AS curve leftward. D) An increase in the money wage rate increases potential GDP. E) An increase in potential GDP increases aggregate supply and shifts the AS curve leftward.
Refer to Figure 4.5. If you know that at least 8 students will choose Solid, you should choose
A) Solid. B) Dash. C) either Solid or Dash, as your payout will be the same either way. D) You need to know what the 9th student will choose before you will know your best choice.
While the slope of the perfectly inelastic supply curve ________, the slope of the perfectly elastic supply curve ________
A) is zero, approaches infinity B) approaches infinity, is zero C) is zero, is zero D) approaches infinity, approaches infinity
Which of the following statements is correct?
A. A corporation is a business that is legally owned by its employees. B. Corporations are legal entities that, in law, are treated as persons. C. Stockholders are legally liable for all the debt of a corporation. D. Most large companies and many small companies in the United States are not corporations.