Consumer surplus is the value of a good minus the cost of producing it, summed over the quantity bought

Indicate whether the statement is true or false


FALSE

Economics

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Voluntary export restraints are illegal under international trading rules

Indicate whether the statement is true or false

Economics

If the cross elasticity of demand for good x with respect to the price of good y is positive, then goods x and y are

A) normal goods. B) inferior goods. C) complements. D) substitutes.

Economics

The simple deposit multiplier is the ratio of the amount of

A) new reserves created by the banks to the amount of loans. B) loans issued by the banks to deposits created by the banks. C) new reserves created by the banks to the amount of deposits. D) deposits created by the banks to the amount of new reserves.

Economics

To display information on two variables, an economist must use

a. a bar graph. b. a pie chart. c. the coordinate system. d. a time-series graph.

Economics