Consumer surplus is
a. a concept that helps us make normative statements about the desirability of market outcomes.
b. represented on a graph by the area below the demand curve and above the price.
c. a good measure of economic welfare if buyers' preferences are the primary concern.
d. All of the above are correct.
d
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A _________________________ is required when the location of comparable property is either superior or inferior to the location of subject property.
Fill in the blank(s) with the appropriate word(s).
Needs-tested spending is defined as
A) spending by the President on the White House. B) spending on programs for people qualified to receive benefits. C) spending that increases in expansions and decreases in recessions. D) taxes paid by those qualified by their income. E) spending by Congress on its own perks of office.