If a bank receives $1,000 in currency as a new deposit, its ability to make loans increases by $1,000

If Ed is willing to pay a maximum of $200 for a tweed sport coat but buys one for $180, that $20 saved is

a. his reservation price b. the store's producer surplus c. his total expenditure d. his marginal utility e. his consumer surplus

Gross domestic product adds together many different kinds of goods and services into a single measure of the value of economic activity. To do this, GDP makes use of

a. market prices. b. statistical estimates of the value of goods and services to consumers. c. prices based on the assumption that producers make no profits. d. the maximum amount consumers would be willing to pay.