If the most someone is willing to pay for ticket to see their favorite team is $100 and the market price of the ticket is $35, then this buyer will get consumer surplus of
A. 1 ticket.
B. $35.
C. $65.
D. $100.
Answer: C
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In the United States since 1970, how has the use of credit cards affected the demand for M1 as a percentage of GDP?
What will be an ideal response?
A society will be at a point inside its production possibilities curve whenever
a. all resources are fully employed. b. income is equally distributed. c. some resources are unemployed. d. resources are scarce.
According to the Keynesian transmission mechanism, if the Fed conducts an open market sale of government securities, it may cause which of the following in the investment goods market?
A) a rightward shift in the investment demand curve B) a leftward shift in the investment demand curve C) a movement down and along a given investment demand curve D) a movement up and along a given investment demand curve
Exhibit 5-10 GDP data (billions of dollars) Indirect business taxes$ 600 Depreciation950 Change in business inventories50 Compensation of employees5,400 Corporate profits700 Durable goods600 Exports100 Social Security taxes360 Transfer payments300 Fixed investment950 Government spending800 Imports150 Net interest500 Nondurable goods2,000 Personal taxes1,000 Rental income200 Services4,000 In Exhibit 5-10, and using the income approach, GDP equals
A. $8,350 billion. B. $9,710 billion. C. $5,400 billion. D. $8,400 billion.