Suppose seller X is willing to sell one good X for $5, a second good X for $10, a third for $16, a fourth for $25, and the market price is $20 . What is seller X's producer surplus?

Just as the aggregate-demand curve slopes downward only in the short run, the trade-off between inflation and unemployment holds only in the long run

a. True b. False Indicate whether the statement is true or false

The income transfers that a person receives from Social Security

A) is not related to the amount that they have contributed. B) is a yearly proportion of the amount contributed. C) is the same for everyone whether they contributed to the system or not. D) depends entirely on the amount received from private pensions.