What is another term for total surplus?
a. efficiency
b. consumer surplus
c. social surplus
d. deadweight loss
c. social surplus
Total surplus is another term for social surplus.
You might also like to view...
What effect would each of the following government actions have on the steady-state growth rate of the standard of living? a. a decrease in income tax rates b. a doubling of the capital gains tax c. a growing budget deficit d
an increase in funding for research and development at public universities
Which of the following is a game of perfect information?
A. Chess B. Poker C. Rock-Paper-Scissors D. Both chess and poker are games of perfect information.
If the marginal propensity to consume (MPC) is 0.75, a $50 decrease in government spending, other things being equal, would cause equilibrium real GDP to:
a. increase by $50. b. decrease by $50. c. increase by $200. d. decrease by $200.
Suppose that Venezuela experiences significant capital outflows after a recent election. If the nation had flexible exchange rates, these flows would have had the following effect on the reserves account and monetary base
a. Reserves account would rise and monetary base would fall. b. Reserves account would not change and monetary base would not change. c. Reserves account would fall and monetary base would not change. d. Reserves account would fall and monetary base would fall. e. Reserves account would fall and monetary base would rise.