Consumer surplus is the difference between what you would have _________________ and what you _____.
Fill in the blank(s) with the appropriate word(s).
been willing to pay; have to pay
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A vertical line always has a slope of one
a. True b. False Indicate whether the statement is true or false
What is the effect of the following events on the demand for Xbox One games and the quantity of Xbox One games? demanded, other things remaining the? same?
A. The price of an Xbox one falls B. The expected future price of an Xbox one game falls C. The prices of PS4 and Wii Upper U fall D. Upper , a new game console comes onto the marker, which is a close substitute for Xbox one
Real income per person was the same until:
A. the 1800s, when the Industrial Revolution caused it to grow. B. Real income per person has been roughly the same for the last three centuries. C. the 1900s, when wireless technology caused it to grow. D. the 1500s, when the Renaissance caused it to grow.
If individuals suddenly increase their withdrawals from the banking system, the federal funds rate should:
A. increase as bank reserves increase. B. decrease as bank reserves increase. C. decrease as bank reserves decline. D. increase as bank reserves decline.