In Figure 32.1, at the supported price-quantity combination where production is unlimited, and government buys the excess, the money government pays producers is 
A. 0P*CQ*.
B. 0PfloorBQD.
C. QDBEQS.
D. 0HCQ*.
Answer: C
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In the figure above, suppose that the government imposes a tax of $4 per pizza. Then, the tax revenue collected by the government equals
A) $240. B) $320. C) $160. D) $120. E) $4.
When the demand for electricity peaks during the hottest days of summer, Florida Power and Light Company can generate more electricity by using more fuel and increasing the working hours of many of its employees
The company cannot, however, increase electric power production by building additional generating capacity. This means that the company is in the A) market run. B) short run. C) intermediate run. D) long run.
Globalization refers to a process involving many complex elements, one of which is that
a. the time it takes for goods, people, information, and money to flow across borders is expanding. b. lower transportation costs mean cheap labor in distant places can be exploited. c. the world is increasingly defined by separate markets rather than one dominant market. d. international trade decreases relative to domestic trade.
A shift in the demand curve will occur when
A) supply shifts. B) the price of an input used to produce the good changes. C) consumers' income changes. D) the price of the product changes.