Consumer’s surplus is what one consumer is willing to pay for a commodity over what another consumer is willing to pay for the same commodity.
Answer the following statement true (T) or false (F)
False
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Stock markets transactions involve
A. exclusively in newly issued stocks. B. purchases and sales of previously issued stocks. C. in both newly issued and previously issued stocks, but they do not deal in bonds. D. in large amounts of both newly issued and previously issued stocks and bonds.
In developing countries, farm productivity is low because _____
a. half of the labor force is involved in industrial activities b. half of the labor force is involved in the service sector c. more than half of the population consists of old people d. farming methods are generally primitive e. people prefer leisure over working
A ________ describes the possible moves in a game in sequence and lists the payoffs to each possible combination of moves.
A. payoff matrix B. decision tree C. multi-period game D. game graph
Which is most likely to be observed in a community where legal ceilings are imposed on residential rents?
A. Poor people will be able to find adequate housing B. Homeowners will reduce their own use of housing space, making more available to others C. Those whose needs for housing are most urgent will be able to obtain the space they want D. People moving into the community will have difficulty locating residential space to rent