In the above figure, if the single-price monopolist charges a price that maximizes its profits, consumer surplus is
A) area hacd.
B) area bac.
C) area jae.
D) area jbce.
B
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When an individual or firm in the United States requests that a bank sell foreign exchange, the bank will probably
A) call a foreign bank and arrange a purchase. B) call the central bank and arrange a purchase. C) call another bank customer with foreign exchange holdings. D) call another domestic bank and arrange a purchase. E) call a foreign exchange broker and arrange a purchase.
China's recent experience supports the proposition that
A) "economic miracles" are solely to be expected in small countries. B) central planning and socialism can promote sustained economic growth. C) a lessening of income disparities is a prerequisite for economic growth. D) growth in a large country cannot be affected by its foreign sector. E) policy changed can dramatically prompt export oriented growth