In the above figure, a price of $1.25 and a quantity of 5 million gallons of milk per day maximizes the
A) amount of consumer surplus.
B) amount of producer surplus.
C) sum of consumer surplus and producer surplus.
D) All of the above answers are correct.
C
Economics
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The pitfalls of a strict money supply rule can be avoided if the Fed:
A. targets velocity growth. B. targets nominal GDP growth. C. targets money supply growth. D. targets real GDP growth.
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When government expenditures exceed revenues there is a government budget deficit.
a. true b. false
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