Which of the following is not true when the price of a good or service falls?
a. Buyers who were already buying the good or service are better off.
b. Some new buyers, who are now willing to buy, enter the market.
c. The total consumer surplus in the market increases.
d. The total value of purchases before and after the price change is the same.
d
You might also like to view...
When the multiplier is ________, an autonomous decrease in investment of $200 billion decreases equilibrium real GDP by $400 billion
When the multiplier is ________, an autonomous decrease in investment of $200 billion decreases equilibrium real GDP by $800 billion. A) 2.0; 4.0 B) 0.4; 0.2 C) 0.2; 0.4 D) 4.0; 8.0 E) $400 billion; $800 billion
If supporters of restrictions on imports argue that protection is needed to preserve a strategic industry, which of the following is being used?
A) Protecting national culture argument B) Infant-industry argument C) Save domestic jobs argument D) National security argument E) Dumping argument
An expansion in a country's capital stock is associated with a(n) _____
a. increase in potential GDP b. decline in future consumption c. increase in human capital d. decline in the rate of investment e. increase in national debt
Which of the following granted collective bargaining rights to Federal government workers?
A. The National Industrial Recovery Act B. The Norris-LaGuardia Act C. The Taft-Hartley Act D. An executive order of President Kennedy