If a market produces a level of output that exceeds the competitive equilibrium output, then

A) social welfare will be higher.
B) producer surplus will be higher.
C) marginal cost will exceed price.
D) All of the above.

C

Economics

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Suppose the nominal interest rate is 1% and the rate of inflation is 3%. The real interest rate is therefore

A) -2%. B) 2%. C) 4%. D) 5%.

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On the graph showing the Laffer curve, tax revenue is optimized at point ______.


a. A
b. C
c. D
d. E

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