If a car is priced at €10,000 in a motor garage. You were willing to pay €12,000 for the car but you actually paid €9000, what is the consumer surplus?
a) €10,000.
b) €12,000.
c) €9,000.
d) €3,000.
Answer: d) €3,000
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The figure above shows the market for milk in Cowland. If a subsidy paid to producers of $1 per gallon of milk is introduced, what is the price that consumers pay?
A) $3.00 a gallon B) between $3.00 and $4.00 per gallon C) $4.00 a gallon D) between $4.00 and $5.00 per gallon
Which of the following governmental expenditures are not included in gross domestic product?
a. The construction of federal buildings b. Social Security payments c. Salaries for senators d. Purchases of new defense weapons
Which of the following groups has the lowest life expectancy at birth?
a. middle-income economies b. low-income economies c. high-income economies d. sub-Saharan African economies e. all the world's economies
Indexing Social Security payments is done using the:
A. CPI. B. PPI. C. GDP deflator. D. RPI.