Joel has a 1966 Mustang, which he sells to Susie, an avid car collector. Susie is pleased since she paid $8,000 for the car but would have been willing to pay $11,000 for the car. Susie's consumer surplus is $2,000

In the above figure, the total dollar amount of the Medicare subsidies provided by the government is equal to

A) the difference between Ps and P0 multiplied by QM. B) the difference between Ps and Pd multiplied by QM. C) the difference between P0 and Pd multiplied by Qd. D) the difference between Ps and Pd multiplied by Q0.

If output per capita grows by a constant 6% per year, then the standard of living would grow by about ________ over 3 years

A) 12% B) 17% C) 18% D) 19% E) 20%