True or False

1. When two parties trade, only one of the two parties can win.
2. Capital is all the money in circulation in the economy.
3. The market equilibrium is unstable and if disturbed stays away fromequilibrium.
4. Consumer surplus is willingness to pay less price.
5. A price floor above equilibrium leads to excess quantity demanded or a shortage.
6. Entrepreneurs are paid profit which is the only factor payment that can be negative.
7. People respond to incentives like earning less income in response to an income tax.
8. Price floors above equilibrium cause wasteful increases in quality.
9. A minimum wage makes each worker better off.
10. If the government prints and circulates too much money prices will rise.
11. The central bank controls the economy.
12. When two parties trade, only one of the two parties can win.
13. If the price of a substitute for pizzas increases, the demand for pizzas rises.
14. If the price of computers increases, so does the supply of computers
15. If Qs = 10P and Qd = 200 - 10P, the equilibrium quantity is 100.