All of the following are things that the government can do to eliminate a surplus except:
A) Give the surplus away to domestic consumers
B) Increase the price
C) Give the surplus away to foreign consumers
D) Destroy the surplus
Correct Answer:
Verified
Q7: A price support that is lower than
Q8: Market failures include all except:
A) Market power
B)
Q9: In the case of market failure:
A) Socialism
Q10: Price supports are most commonly used in:
A)
Q11: Price ceilings are most commonly used in:
A)
Q13: Price ceilings help:
A) All consumers
B) All producers
C)
Q14: Welfare economics is:
A) Giving money to poor
Q15: consumer surplus measures all except:
A) The surplus
Q16: Producer surplus measures all except:
A) The surplus
Q17: If consumer willingness to pay equals 5
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