You would be willing to pay a maximum of $1000 for an airplane ticket to London, UK during the summer, and you can buy an airplane ticket for $890. Your consumer surplus is:
A) $190.
B) $110.
C) $100.
D) $90.
Answer: B) $110.
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Describe the U.S. Social Security system and explain how it is funded
Loans that are secured against an asset:
A. are much shorter in length than unsecured loans. B. generally have higher interest rates. C. are much longer in length than unsecured loans. D. generally have lower interest rates.
Refer to the above table. The balance of trade is
A. +$335. B. -$155. C. -$665. D. $1000.
The relationship between inflation and unemployment is given by ? = ?e - 4(u - 
).(a)Draw a diagram showing a long-run Phillips curve and two short-run Phillips curves that contain the following points: A: ? = .04, ?e = .04 B: ? = .08, ?e = .08 C: ? = .04, ?e = .08 D: ? = .08, ?e = .04Label points A, B, C, and D in your diagram.The unemployment rate at point A equals .05.(b)What are the values of the natural rate of unemployment and the unemployment rates at points B, C, and D?
What will be an ideal response?