In the figure above, the redistribution from the consumers to the producer if the firm is a single-price, unregulated monopoly rather than a perfectly competitive industry is

The above figure shows supply and demand curves for milk. In an effort to help farmers, the government passes a law that establishes a $3 per gallon price support. To maintain the price support, government expenditures must equal

A) k + i. B) f + g + h + i + j. C) f + g + h + i + j + k. D) f + g + h + i + j + k + e.

The Phillips curve assumes that shocks to the economy come from the demand side

a. True b. False Indicate whether the statement is true or false