The closer the exchange price is to the valuation of the buyer, the greater the buyer's share of the economic value created by the exchange
Indicate whether the statement is true or false
F
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The difference between opportunity cost of the sellers and the valuation of the buyers is known as:
a. social cost. b. economic value. c. deadweight loss. d. consumer surplus.
Complete the following sentence. In an expansion, typically
A) unemployment increases. B) the labour force participation rate increases. C) the employment-to-population ratio decreases. D) employment decreases. E) both B and D are correct.
Economic expansions might lead to inflation because an expansion leads to:
A. a decrease in the unemployment rate, which increases wages. B. an increase in the unemployment rate, which increases wages. C. a decrease in the unemployment rate, which decreases wages. D. an increase in the unemployment rate, which decreases wages.
What have been the trends in income inequality since 1975?
What will be an ideal response?