When government revenues exceed government outlays in a particular year, this is called

In macroeconomic analysis, the representative consumer

A) denotes the consumer with the average amount of income. B) plays the role of a stand-in for all consumers in the economy. C) is the consumer who bargains with firms for all workers in the economy. D) is always a misleading fiction.

A market survey conducted by an electronics manufacturer reported a year on year growth in the sale of television sets, along with an increase in the selling price. Which of the following could be a likely cause for this situation?

a. A decrease in supply b. An increase in demand c. A decrease in demand d. An exception to the law of demand e. An increase in supply