In the figure above, the deadweight loss is
A) $4,000 an hour.
B) $2,000 an hour.
C) $1,000 an hour.
D) $5,000 an hour.
E) zero.
A
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The silverware industry has been in serious decline since the 1980s. Family dining habits are less formal so people purchase less silverware. Also, in 2006-2008, the price of silver increased from $5 to $20 per ounce. Which graph in Figure 4-12 best illustrates these developments?
a.
1
b.
2
c.
3
d.
4
Figure 4-12
If C represents aggregate consumption, Id represents domestic investments, G represents government expenditures, E represents national expenditures on goods and services, X represents foreign demands for exports, and M represents domestic demand for imports, then aggregate demand for this country equals
A. C + Id + G + (X - M). B. E + C + Id + (X - M). C. E + (M - X). D. C + Id + G.