In the United States during the 1950s and 1960s
A) the inflation rate was frequently less than 2 percent a year.
B) prices rose sharply.
C) prices fell.
D) there was zero inflation.
A
Economics
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Economic efficiency in a competitive market is achieved when
A) producer surplus equals the total amount firms receive from consumers minus the cost of production. B) the marginal benefit equals the marginal cost from the last unit sold. C) consumers and producers are satisfied. D) economic surplus is equal to consumer surplus.
Economics
If the price of chewing gum is represented by P in equation P = 25 - 0.5 QD, then the corresponding quantity of chewing gum demanded is represented by the demand equation
A) QD = 2P - 0.5. B) QD = 0.5P + 25. C) QD = -5 + 10P. D) QD = 50 -2P.
Economics