Suppose Mary is willing to pay up to $15,000 for a used Ford pick-up truck. If she buys one for $12,000, her ________ would be ________.
A. economic surplus; $12,000
B. benefit; $12,000
C. economic surplus; $3,000
D. cost; $15,000
Answer: C
Economics
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Table 9-1 Output Consumption Investment Net Exports 1,000 800 500 100 1,500 1,200 500 100 2,000 1,600 500 100 2,500 2,000 500 100 3,000 2,400 500 100 3,500 2,800 500 100 4,000 3,200 500 100 ? In Table 9-1, inventories are being depleted as long as output is below
A. 2,000 B. 2,500 C. 3,000 D. 3,500
Economics
Since the mid-1970s our merchandise balance of trade has been ________ and our services balance of trade has been _______.
Fill in the blank(s) with the appropriate word(s).
Economics