The distance between the demand curve and the price the consumer has to pay for a product (given quantity demanded) is referred to as:
A. market surplus.
B. producer surplus.
C. consumer surplus.
D. market shortage.
Answer: C
Economics
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International Banking Facilities (or IBFs) were established in 1981
Indicate whether the statement is true or false
Economics
If the dollar-yen exchange rate changes from $1 = 125 yen to $1 = 100 yen, then
a. exports to Japan will likely decrease. b. Japanese tourists will be more likely to visit the United States. c. U.S. businesses will be more likely to use Japanese shipping lines to transport their products. d. U.S. consumers will be more likely to buy Japanese-made automobiles.
Economics