In Figure 22.1, which area represents consumer surplus to the drug addict? 
A. AP*C
B. 0P*CQ*
C. 0BCQ*
D. 0ACQ*
Answer: A
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The aggregate demand curve is the total quantity of an economy's
A) intermediate goods demanded at different inflation rates. B) intermediate goods demanded at a particular inflation rate. C) final goods and services demanded at a particular inflation rate. D) final goods and services demanded at different inflation rates.
Describe how the euro was created. What are the benefits of the monetary union? What are the costs?
What will be an ideal response?
Classical economists and modern monetarists agree that the best way to examine the economy is through the use of
A) aggregate supply and demand. B) the multiplier. C) the quantity theory. D) the GNP account.
If the absolute value of slope of the demand curve is 2.5, price is $6 per unit, and the quantity demanded is 8 units, then the price elasticity of demand is:
A. 1.875. B. 0.3. C. 0.533. D. 1.6.