Four people each have a different willingness to pay for one unit of a good: George will pay $15, Glen will pay $12, Tom will pay $10, and Peter will pay $8. If price decreases from $9 to $8 then the consumer surplus from this unit will increase by
A) $3.
B) $4.
C) $2.
D) $1.
A
Economics
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During the Great Depression, as real interest rates rose, good credit risks were less likely to seek loans. This process illustrates the phenomenon of ________
A) adverse selection B) moral hazard C) poor monetary policy D) debt deflation
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A relationship between two variables in which one variable increases at the same time that the other increases is called
A) nonlinear. B) constant. C) inverse. D) direct.
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Macroeconomics deals with
A. decisions made by firms. B. only large households in a country. C. specific sectors within the economy. D. aggregates within the economy.
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The United States has not experienced high inflation since the 1970s.
Answer the following statement true (T) or false (F)
Economics