The difference between the total amount that producers would have been willing to accept for the total quantity produced in a market and what they actually received at the market clearing price is called
A) production excess.
B) excess demand.
C) market surplus.
D) producer surplus.
D
You might also like to view...
The actual government budget surplus ________ be used to determine the effectiveness of discretionary fiscal policy actions because ________
A) cannot; it excludes non-discretionary spending changes B) can; it includes non-discretionary spending changes C) cannot; it includes non-discretionary spending changes D) can; it excludes automatic stabilization expenditures
John is a U.S. citizen who works for Walmart located in France. John's work contributes to:
A. both U.S. GDP and U.S. GNP. B. U.S. GNP, but not U.S. GDP. C. neither U.S. GDP nor U.S. GNP. D. U.S. GDP, but not U.S. GNP.
In the circular flow diagram, firms ________ labor and households ________ goods and services.
A. supply; demand B. supply; supply C. demand; supply D. demand; demand
What are the likely effects of a sovereign debt crisis in terms of the government's ability to finance its debt?
What will be an ideal response?