By charging the equilibrium price for shared rides as opposed to the government-regulated price charged by traditional taxi companies, Uber has
A) increased deadweight loss. B) decreased producer surplus.
C) increased consumer surplus. D) decreased consumer surplus.
C
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Thomas Malthus was an early nineteenth-century economist that created a model describing the relationship between:
A. population growth and war. B. population growth and birth control. C. population growth and crime. D. population growth and food production.
What is known as the Dutch disease?
a. The problem that arises when a government cannot meet its foreign debts b. The phenomenon of a boom in one industry causing declines in the rest of the economy c. A sudden and unexpected devaluation of a currency as a consequence of policy controls d. The problem that arises when high imports force an economy to borrow from external sources e. A deficit in the balance of payments of the economy that arises due to a sudden appreciation of the domestic currency
Which of the following scenarios would serve to decrease the demand for unskilled labor in the U.S.?
a. increased productivity gains among unskilled laborers b. increased demand for goods produced by unskilled laborers c. increased international trade with countries where unskilled labor is more plentiful d. increased supply of migrant workers
Specialization in goods and services one can produce at a low cost makes it possible for trading partners to produce a larger joint output. This is called
A) the law of production possibilities. B) the law of absolute advantage. C) the law of comparative advantage. D) the law of demand.