Producer surplus is the:
a. number of producers who are excluded from a market because of scarcity.
b. amount of a good that a producers will sell at a price below the equilibrium price.
c. amount consumers actually pay for a good minus the amount the sellers are willing to sell the good.
d. amount consumers are willing to pay for a good minus the cost of producing the good.
c
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Which of the following statements is true?
(a) larger countries (in terms of size) tend to be more open (in terms of larger share of exports in GDP) than smaller countries and developing countries tend to be less open than developed economies. (b) larger countries (in terms of size) tend to be less open (in terms of lower share of exports in GDP) than smaller countries and developing countries tend to be less open than developed economies. (c) larger countries (in terms of size) tend to be more open (in terms of larger share of exports in GDP) than smaller countries and developing countries tend to be more open than developed economies. (d) larger countries (in terms of size) tend to be less open (in terms of lower share of exports in GDP) than smaller countries and developing countries tend to be more open than developed economies.
The upsurge in single parenthood is entirely confined to minorities
Indicate whether the statement is true or false