Mary is willing to pay $50 for a Christmas tree, John is willing to pay $45 and Jeff is willing to pay $40. The price of a tree is $40. The total consumer surplus for Mary, John and Jeff taken together is
A) $15.
B) $135.
C) $40.
D) $95.
E) $120.
A
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If a small open economy reduces its budget deficit, the result will be:
A) a lower world real interest rate, but no change in the domestic real interest rate B) a lower domestic real interest rate, but no change in the world real interest rate C) lower domestic and world real interest rates D) no change in either the domestic or world real interest rate
The average cash income of nonpoor two-parent families with children is more than six times greater than for poor two-parent families
Indicate whether the statement is true or false
A Nash Equilibrium is a stable outcome for an oligopoly market situation
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.