Consumer Surplus Is the Area

question 22

Multiple Choice

Consumer surplus is the area

• A) below the demand curve and above the market price.
• B) below the supply curve and above the market price.
• C) above the demand curve and below the market price.
• D) above the supply curve and below the market price.
• E) below the demand curve and above the supply curve.

Understand the economic indicators and trends related to trade deficits and trade imbalances.

Understand the dynamics of the trade imbalance between the US and its significant trading partners.

Identify the trend of trade deficits with China and Japan over specific periods.

Distinguish between merchandise trade deficit and overall trade deficit.

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