Refer to Figure 4-1. If the market price is $1.50, what is the consumer surplus on the first burrito?

A macroeconomic equilibrium occurs when the

A) quantity of real GDP demanded is greater than the quantity of real GDP supplied. B) quantity of real GDP demanded equals the quantity of real GDP supplied and both equal potential GDP. C) quantity of real GDP demanded equals the quantity of real GDP supplied even if they are not equal to potential GDP. D) quantity of real GDP demanded is less than the quantity of real GDP supplied. E) None of the above answers is correct.

The amount you pay for apps to download to your cell phone is an example of a(n) ________ cost

A) implicit B) opportunity C) explicit D) network