The difference between the total amount that people would have been willing to pay for the total quantity produced and consumed in a market and what they actually pay at the market clearing price is called
A) production excess.
B) excess demand.
C) market surplus.
D) consumer surplus.
D
Economics
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Goods that are rival in consumption and excludable are:
A. a common resource. B. a private good. C. a public good. D. an artificially scarce good.
Economics
If the marginal propensity to save is 0.3, the size of the multiplier is:
A. 0.7. B. 3.3. C. 1.3. D. 2.3.
Economics
Referring to Figure 18.2, if the exchange rate is currently 11 pesos per dollar, then we expect the dollar to ________ and the peso to ________.
A. depreciate; depreciate B. depreciate; appreciate C. appreciate; depreciate D. appreciate; appreciate
Economics
When marginal utility is zero, total utility is at a minimum.
Answer the following statement true (T) or false (F)
Economics