Consumer surplus is the
A) value of a good expressed in dollars.
B) price of a good expressed in dollars.
C) value of a good minus the price paid for it summed over the quantity bought.
D) value of a good plus the price paid for it summed over the quantity bought.
C
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If the expected future exchange rate rises, the currency's
A) quantity supplied increases. B) supply decreases. C) supply increases. D) exchange rate falls.
When aggregate planned expenditure exceeds real GDP,
a. firms increase production and real GDP increases. b. firms decrease production and real GDP increases. c. firms decrease production and real GDP decreases. d. firms increase production and real GDP decreases. e. firms do nothing because induced expenditure will increase so that the equilibrium is reached.