Consumer surplus is the difference between the maximum amount a buyer is willing to pay for a product and the price he actually pays

Unemployment rates in the United States during the past 60 years

A) have remained between 4 and 6 percent. B) have risen and fallen in a range between approximately 10 and 25 percent. C) have risen and fallen in a range between approximately 4 and 10 percent. D) have fallen steadily from approximately 10 percent 40 years ago to near 2 percent today. E) have risen steadily and today are near all-time highs.

A typical economic good has which one of the following characteristics?

A) The desired quantity exceeds the quantity available at a zero price. B) The quantity available exceeds the desired quantity at a zero price. C) It uses no resources to produce. D) It is never scarce.