Use the figure below to answer the following question.
At equilibrium, consumer surplus is
A. 400.
B. 200.
C. 150.
D. 300.
Answer: B
Economics
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If the economy were producing at point E and moved to point B the opportunity cost in terms of lost production of outboard motors would be
A. 16 units of outboard motors.
B. 14 units of outboard motors.
C. 12 units of outboard motors.
D. 10 units of outboard motors.
Economics
Excise taxes constitute a large source of government revenue
a. True b. False
Economics
In almost all cases of common resources, the same problem arises as in the Tragedy of the __________
Fill in the blank(s) with correct word
Economics
If the spending multiplier is 3 and the desired amount of increase in real GDP is $90 million, then by how much would government spending have to increase??
A. ?$270 million. B. ?$90 million. C. ?$30 million. D. ?$0.
Economics