If Debbye is willing to pay $50 for a pair of shoes but only has to pay $20 because the shoes are on sale, then her consumer surplus on that pair of shoes is
a. $50
b. $20
c. $70
d. $30
e. $25
D
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Models that focus on factors other than changes in the money supply to explain fluctuations in real GDP are called
A) rational expectations models. B) real business cycle models. C) nonmonetary business cycle models. D) short-run macroeconomic models.
An advantage of using the cross-sectional regression method in estimating production is that
A) the problem of technological change over time is overcome. B) there is no need to adjust data, which are in monetary terms for geographical differences. C) we can assume that all plants operate at their most efficient input combinations. D) All of the above
Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.
Select whether the statement is true or false. A. True B. False
Use the list of items below to answer the question that follows.1.Money market mutual funds held by individuals 2.Savings deposits, including money market deposit accounts 3.Currency held by banks 4.Currency held by the public 5.Shares of corporate stock 6.Small time deposits 7.Checkable deposits 8.Large time deposits Refer to the above table. Which items are included in neither the M1 money supply nor the M2 money supply?
A. 1, 2, and 6 B. 1, 6, and 8 C. 3, 5, and 8 D. 3, 4, and 7