The difference between the highest amount a buyer would be willing to pay for a good and the amount she actually pays for it is
A) producers' surplus.
B) consumers' surplus.
C) marginal revenue.
D) marginal utility.
B
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The ________ specializes in making long-term loans for capital investment projects that do not have private financial support
A) International Monetary Fund B) Federal Reserve Bank C) World Bank D) European Central Bank
Suppose the income-consumption curve for goods X and Y is upward sloping. If the price of good Y increases and the income-consumption curve rotates in clockwise fashion, then we know that:
A) X and Y are complements. B) X and Y are both inferior goods. C) X and Y are substitutes . D) Y is an inferior good.
Trends in healthy eating have led to a steep increase in the consumption of leafy greens. Which of the following shows the interdependence of input markets related to this food trend?
a. A large kale and spinach farming operation expanded into previously uncultivated fields. b. The additional growing fields required irrigation equipment and additional field laborers. c. Demand for kale and spinach was growing rapidly, which led to an increase in prices. d. Wages and working conditions for field workers were established in a union contract.
In October 2008, Congress passed the Troubled Asset Relief Program (TARP), under which the Treasury provided ________ to banks in exchange for ________
A) bonds; cash B) lines of credit; loan guarantees C) funds; stock D) financial advice; promises to expand mortgage lending