In the above figure, if the market produces the efficient amount of purses, then consumer surplus equals triangle

When exchange rates are very volatile, with a wide range of variation, the currency is said to be:

a. in limbo. b. in free float. c. perfectly flexible. d. in sluggish float.

Government policies such as price controls, rent controls, and quantity restrictions have the effect of

A) promoting the attainment of an unhindered market equilibrium. B) allowing quantity demanded to adjust to equality with aggregate supply. C) creating excess quantities demanded or excess quantities supplied. D) pushing prices to market clearing levels more rapidly than private market forces.