Consumer surplus is equal the area below the _________ and above___________

Which of the following explains why fluctuations in real GDP have become less volatile in the United States since 1950?

A) Services have become a smaller fraction of GDP since the 1950s. B) Unemployment insurance and other government transfer programs are more prevalent since the 1950s. C) The government has become more reluctant to intervene when real GDP declines and unemployment rises since the 1950s. D) both B and C

Answer the following statements true (T) or false (F)

1. The period known as the "Industrial Revolution" began in the United States in the late 1800's. 2. Citizens living in the richest nations today have material standards of living that are on average more than 50 times higher than people living in the poorest countries. 3. Savings are generated when current consumption is less than current output. 4. Buying 100 shares of Google stock would be an example of economic investment 5. Economists use the word investment to refer to the purchase of assets such as stocks, bonds, and real estate.