Economics - Study Mode
[#756] The term "consumer goods" is used by economists to refer to
Correct Answer
(B) goods, other than free goods, whose use directly satisfies consumer's wants
[#757] The difference between what a consumer is willing to pay for a unit of a good and what must be paid when actually buying it is called
Correct Answer
(B) consumer surplus
[#758] According to monetarists, the Great Depression in the United States largely resulted due to
Correct Answer
(A) Excessive import in relation to exports
[#759] The supporter of mixed economy was:
Correct Answer
(C) J. M. Keynes
[#760] Normal profits refers to the no profit no loss state. This is equal to which type of the cost?
Correct Answer
(B) implicit costs