Surplus value that is lost because something is keeping the market from functioning as well as it can is known as ________
Fill in the blank(s) with correct word
deadweight loss
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If prices have increased since the base period, then
A) real GDP is larger than nominal GDP. B) real GDP can no longer be compared to nominal GDP. C) real GDP is equal to nominal GDP. D) real GDP is smaller than nominal GDP. E) there is no way to adjust nominal GDP so that it equals real GDP.
Deficit is to debt as
a. responsible is to irresponsible. b. increase is to decrease. c. flow is to stock. d. important is to unimportant.
The greater part of the money assets traded in foreign exchange markets is demand deposits in banks.
Answer the following statement true (T) or false (F)
As we move downward along a demand curve for apples,
A) consumer well-being decreases. B) the marginal utility of apples decreases. C) the marginal utility of apples increases. D) Both A and B are true. E) Both A and C are true.