The amount that producers receive for a good minus their costs of producing it equals
a. quantity supplied.
b. supply price.
c. deadweight loss.
d. producer surplus.
d
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Which of the following appears to be evidence against the public interest view of the Fed's motivation?
A) The conflict with the Treasury over interest rate fixing during World War II. B) The failure of the Fed to emphasize the goal of price stability. C) The unwillingness of the Fed to turn over its excess profits to the Treasury. D) The independence of Fed chairmen from the authority of the President.
All of the following might be considered rent-seeking behavior by firms, except one. Which is the exception?
a. bribes to government officials b. money spent on lobbying government officials c. advertisements describing the firm's position on an issue under legislative review d. money spent on advertising for new products e. time spent testifying before state and federal committees