Of the Following Countries, Which Grew the Slowest Between 1870

question 163

Multiple Choice

Of the following countries, which grew the slowest between 1870 and 2003?

• A)Germany
• B)the United Kingdom
• C)Canada
• D)the United States

---

Definitions:

Consumer Surplus

The contrast between how much consumers are ready to pay for a good or service versus what they actually spend.

Consumer Surplus

The gap between the intended investment consumers are willing to make in a product or service and their actual financial outlay.

Willingness to Pay

The maximum amount an individual is ready to sacrifice to acquire a good or benefit from a service.

Market Demand Curve

A graphical representation showing the relationship between the price of a good and the total amount of the good that all consumers are willing to purchase at each price level.