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of the product that the company makes?Select one:a. The Supply curve will shift to the leftb. The Supply curve will shift to the rightc. It will not affect the Supply curved. There will be a downward movement along the Supply curvee. There is not enough information to answer.When the price is below the equilibrium price, which of the following is TRUE?Select one:a. Both the quantity demanded and supplied exceed the equilibrium quantityb. Both the quantity demanded and supplied are less than equilibrium quantityc. The quantity demanded is less than equilibrium quantity, but the quantity supplied is morethan equilibrium quantityd. The quantity demanded is more than equilibrium quantity, but the quantity supplied is lessthan equilibrium quantitye. Both the quantity demanded and supplied equal the equilibrium quantityFeedbackIf the quantity supplied exceeds the quantity demanded, then there is:Select one:a. a shortage and the price is below the equilibrium priceb. a shortage and the price is above the equilibrium price
c. a surplus and the price is below the equilibrium priced. a surplus and the price is above the equilibrium pricee. equilibriumA Price Floor that is set above the equilibrium price creates a(n) _______.Select one:a. Shortageb. Surplusc. Shift in the Demand curved. Shift in the Supply curvee. EquilibriumPrice Controls create shortages by setting the price __________ the equilibrium price.Select one:a. Aboveb. Belowc. Atd. In a different currency thane. None of the above.Deadweight loss can be described as:Select one:a. The difference between Marginal Benefit and Marginal Loss resulting from the carrying outof an activityb. Excess supplyc. Another term for Marginal Lossd. The loss from not consuming an alternate producte. The loss in social surplus resulting from a failure to carry out an activity at the efficient levelIn the figure above, the region A= $40,000, the region B=$24,000, and the region C=$56,000.Which of the following is the Consumer's Surplus?a. $64,000b. $40,000c. $80,000d. $120,000e. $4,000In the figure above, the region A= $40,000, the region B=$24,000, and the region C=$56,000.Calculate the Social Surplus.Select one:a. $24,000b. $40,000c. $56,000d. $64,000e. $120,000
In the figure above, a price floor “F” has been placed below the equilibrium price “E.” Whichalgebraic expression correctly calculates the shortage caused at the price floor level?Select one:a. E - Yb. Z - Yc. X - Yd. Z - Xe. E – XWhich of the following is classified as spending on investment?I. new residential constructionII. business spending on new equipmentIII. business spending on structures such as office buildingsIV. purchase of government bondsA) II and III onlyB) II, III, and IV onlyC) I, II, and III onlyD) I, II, III, and IVCDifficulty: Easy

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Term
Fall
Professor
why are you asking me this?
Tags
Economics, Macroeconomics, Inflation, Supply And Demand, Keynesian economics, a David Ricardo

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