If price increases and the quantity purchased increases, we know that

A) supply increased.
B) supply decreased.
C) demand increased.
D) demand decreased.

C

Economics

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If Stephanie buys a laptop for $700 and the maximum she would have paid was $1,000, which of the following is true?

a. Stephanie received consumer surplus of $1,000. b. Stephanie received producer surplus of $700. c. Stephanie received a consumer surplus of $700. d. Stephanie received a consumer surplus of $300.

Economics

In 2015, exports represented:

A. about 13 percent of U.S. GDP. B. about 1 percent of U.S. GDP. C. about 30 percent of U.S. GDP. D. nearly 20 percent of U.S. GDP.

Economics