John is ready to pay $5 for an extra loaf of bread. Due to an ongoing discount in the store, he gets a loaf for $2. John's consumer surplus from the purchase is ________
A) $2
B) $2.50
C) $3
D) $10
C
Economics
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If the quantity sold of two-liter Coke bottles increases by 10% when price falls by 2%, what is the total change in revenue?
a. Revenue increases by 12% b. Revenue increases by 8% c. Revenue falls by 8% d. Revenue falls by 12%
Economics
Stagflation occurs when inflation ________ and GDP ________
A) rises; rises B) rises; falls C) falls; rises D) falls; falls
Economics
Briefly describe monetarism and the monetary growth rule
What will be an ideal response?
Economics
Saving $100 will:
A. increase wealth by $100. B. decrease wealth by $100. C. increase wealth by $100 only if the $100 is used to repay a debt. D. increase wealth by $100 only if the $100 is used to purchase an asset.
Economics