If the government spends less than what it receives in taxes during a given interval, then the result is

Refer to Figure 7-3. What is the value of domestic producer surplus without a quota?

A) $5 million B) $15.75 million C) $38.5 million D) $53.5 million

A commodity money standard exists when exchange rates are:

a. artificially pegged to the price of oil. b. fixed in terms of gold, thus creating flexible exchange rates between countries. c. fixed in terms of gold, thus creating fixed exchange rates between countries. d. allowed to fluctuate based on the values of different currencies. e. fixed, based on the values of different currencies, in terms of some commodity.