Producer surplus is always the total area below the price and above the supply curve.
a. True
b. False
Indicate whether the statement is true or false
Question 2
Which of the following statements about the Third World is true?
a. Except for Latin America, most Third World citizens live in urban areas.
b. The culture, politics, and geography of the Third World countries are very similar.
c. Third World economies are largely dependent on manufacturing industries.
d. The Third World is made up of non-communist developing countries.
e. About 80 percent of the population of the Third World countries live in China and India.
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