Economic surplus is another term for which of the following?
a. efficiency
b. consumer surplus
c. social surplus
d. deadweight loss
c. social surplus
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President Barack Obama pushed forward a national health care plan to increase the availability of medical care for all Americans. How would one determine the opportunity cost of the proposal?
What will be an ideal response?
Signaling takes place in markets with ________
A) asymmetric information B) positive externalities C) negative externalities D) perfect competition
In 2014, GDP per capita was ________ in the United States than in China, and since 1980, the growth rate of real GDP per capita has been ________ in the United States than in China
A) lower; lower B) higher; lower C) lower; higher D) higher; higher
About how many people out of 7 billion live on just $1.25 a day in the world?
A. 500 million B. 2 billion C. 700 million D. 1.5 billion