Consumer surplus is:
A. the amount of purchasing power a consumer receives when the price of a good falls.
B. the amount of money that exactly compensates a consumer for a change in circumstances.
C. the net benefit a consumer receives from participating in the market for some good.
D. negative whenever the price of a good increases.
C. the net benefit a consumer receives from participating in the market for some good.
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Individual economic decisions are coordinated by
A) markets through adjustments in sales levels. B) markets through adjustments in prices. C) government through adjustments in sales taxes. D) government through adjustments in income taxes.
Adaptive inflationary expectations are based on
A) monetary growth. B) all available information. C) previous inflation rates. D) price changes in futures markets.