The figure below shows the supply and demand curves for oranges in Smallville.When this market is in equilibrium, total economic surplus is ________ per day.

This textbook is about microeconomics because it deals mainly with the behavior of variables such as:

A. economic sectors, the business cycle and monetary and fiscal policies. B. national output, interest rates, unemployment and inflation. C.individual economic units, such as consumers, firms, workers and investors D.national and international markets, exchange rates and economic treaties.

The experience of the United States and other industrialized countries in the 1930s contradicts the classical view of the labor market where the money wage adjusts quickly to maintain full employment. On this issue

a. the Keynesians agree but the monetarists disagree. b. the monetarists agree but the Keynesians do not agree. c. both the Keynesians and monetarists are in agreement. d. neither the Keynesians nor the monetarists agree.