Producer surplus is the
a. area under the supply curve to the left of the amount sold.
b. amount a seller is paid minus the cost of production.
c. area between the supply and demand curves, above the equilibrium price.
d. cost to sellers of participating in a market.
b
Economics
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How would expansionary monetary policy affect the AD curve?
A) It would become more static. B) It would shift to the left. C) It would fall. D) It would shift to the right.
Economics
According to the traditional Keynesian analysis, if the government increases spending and pays for all of it by raising current taxes, then
A) a budget surplus will occur. B) aggregate demand will increase. C) a budget deficit will occur. D) aggregate demand will decrease.
Economics