The total amount of consumer surplus in a market is equal to the area below the market demand curve and above the market price
Indicate whether the statement is true or false
TRUE
You might also like to view...
What part of federal government spending has grown the most slowly in recent decades?
a. national defense b. welfare c. interest on the national debt d. social security and medicare e. all other forms of federal government spending
Owners may have little to do with the management of the firm in the case of
A) partnerships. B) corporations. C) proprietorships. D) either corporations or proprietorships.
Of the different types of businesses, a corporation has the ________ government rules and the ________ government regulations affecting it
A) least; least B) least; most C) most; least D) most; most
Refer to the graph , in which Dt is the transactions demand for money, Dm is the total demand for money, and Sm is the supply of money. The market is initially in equilibrium at a 6 percent interest rate. If the money supply increases, then Sm2 will shift to:
A. Sm3 and the interest rate will be 4 percent
B. Sm3 and the interest rate will be 8 percent
C. Sm1 and the interest rate will be 8 percent
D. Sm1 and the interest rate will be 4 percent