On a graph, consumer surplus is represented by the area
a. between the demand and supply curves.
b. below the demand curve and above price.
c. below the price and above the supply curve.
d. below the demand curve and to the right of equilibrium price.
b
You might also like to view...
If you take out a mortgage with a nominal interest rate of 8% and you expect the inflation rate to be 2%, but the actual inflation rate turns out to be 8%, then you end up paying a real interest rate of
A) 0%. B) 1%. C) 2%. D) 6%.
Which of the following is the largest source of revenue for the federal government?
A. corporate income tax B. payroll tax C. personal income tax D. user charges
A massive selling of domestic currency assets by domestic and foreign financial investors is called:
A. a speculative attack. B. a currency revaluation. C. protectionism. D. a currency devaluation.
Careful studies of the data indicate that deviations from interest parity are
A) large. B) non-existent. C) small. D) constant over time.