Refer to the figure above. What is the producer surplus when the price is $50?
A) $100
B) $200
C) $400
D) $1,000
B
Economics
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Based on the above table, if the current price level is 100 and the unemployment rate is 4 percent, then the
A) expected inflation rate is 8 percent. B) inflation rate is 2.8 percent. C) expected inflation rate is 2.8 percent. D) inflation rate is 8 percent. E) inflation rate is 108 percent.
Economics
In order to make oil profits as large as possible, OPEC meets to set oil production quotas for its members. OPEC is best classified as a:
a. monopoly. b. cartel. c. kinked demand industry. d. price-leadership industry.
Economics