Suppose the price of a scooter is $200 and Cora Lee is willing to pay $250. Cora Lee's
A) consumer surplus from that scooter is $200.
B) consumer surplus from that scooter is $50.
C) marginal benefit from that scooter is $100.
D) consumer surplus from that scooter is $150.
E) consumer surplus from that scooter is $250.
B
Economics
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Which of the following is NOT a role of Adam Smith?
A. wrote Wealth of Nations book in 1776 B. believes that prices, self interest, and competition have a role in the economy C. believes in the efficiency of market economies D. argued for laissez faire E. focused on an accumulation of gold
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At levels of GDP above full employment, the federal budget would usually be in a deficit position
a. True b. False Indicate whether the statement is true or false
Economics