According to this Application, real GDP only grew by ________ percent from the end of the recession in 2009 through 2014

A price support set above the equilibrium price does which of the following?

i. decreases producer surplus ii. decreases consumer surplus iii. decreases the marginal cost of the last unit produced A) i and ii B) i and iii C) ii and iii D) i, ii, and iii E) ii only

The tax with the minimum excess burden of taxation is most desirable from an efficiency standpoint because _____

a. it suggest that people substituted away from the tax by a considerable amount b. it minimizes tax shifting c. it produces the least social cost per dollar of revenue raised d. it will raise the most revenue for government