What impact does an increase in price have on consumer surplus?
a. Increases it
b. Decreases it
c. Depends on the amount of the price change
d. Will not affect consumer surplus
b
Economics
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A bundle of goods that costs $1 in the U.S. is worth 5 units in Country A's currency. If Country A's GDP in its own currency is 5,000,000 units, Country A's GDP in purchasing power parity-adjusted dollars is ________
A) $1,000,000 B) $50,000,000 C) $2,500,000 D) $3,000,000
Economics
Which school of thought believes that recessions are the result of inappropriate monetary policy?
A) only classical B) only Keynesian C) Monetarist D) both Keynesian and classical
Economics
Productive inefficiency implies that
What will be an ideal response?
Economics
Economic growth is an increase in real GDP per capita.
Answer the following statement true (T) or false (F)
Economics