Those who believe in the rational expectations hypothesis advocate ________ policy intervention.

If there is an advancement in the technology used to produce a product, what is the likely effect it may have on the supply?

A) The company would not change its manufacturing. B) It would increase the supply. C) It would decrease the supply. D) More people would be needed to produce the product.

Which of the following statements is true?

A) Consumer surplus measures the total benefit from participating in a market. B) When a market is in equilibrium consumer surplus equals producer surplus. C) Consumer surplus measures the net benefit from participating in a market. D) Producer surplus measures the total benefit received by producers from participating in a market.