What is the primary objective of the Financial Stability Oversight Council?
What will be an ideal response?
The objective of the council is to avoid situations in which the insolvency of one large financial firm threatens the stability of the financial system.
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The real core of the economic problem is to: a. increase the amount of leisure time available to people
b. guarantee everyone on the planet a minimum level of food, shelter and clean water. c. allocate limited resources among competing uses. d. eliminate scarcity.
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. Given the scenario described, if the market price of hammers decreased from $15 to $11:
A. total producer surplus would fall by $4. B. total producer surplus falls by $8. C. House Depot's producer surplus falls by $4. D. producer surplus for each producer falls by $4.