Kayla decides that she would pay as much as $400 for a new refrigerator. She buys the refrigerator and realizes consumer surplus of $75 . How much did Kayla pay for her refrigerator?
a. $75
b. $325
c. $400
d. $475
B
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A graph of two variables is a vertical line. What is the interpretation of this result?
What will be an ideal response?
Faster long-term growth can be achieved by discouraging saving and encouraging consumption
Indicate whether the statement is true or false
The likelihood of an individual's vote being significant in a Presidential election is fairly high, especially if they live in a swing state
a. True b. False
In a command economy, the three economic questions are answered by which of the following?
a. The production and consumption choices made by sellers and buyers in decentralized markets. b. A cartel of major transnational corporations, government agencies, and consumer advocates. c. A trilateral commission of major corporations, elected officials, and economists d. A central authority such as a peoples' committee or a dictator.