Surplus Refers To

question 83

Multiple Choice

Surplus refers to:

• A) the difference between the price at which a buyer or seller would be willing to trade and the actual price.
• B) the difference between the willingness to pay and the actual price paid.
• C) the difference between the willingness to sell and the actual price accepted.
• D) All of these are true.

---

Definitions:

Protestants

Members of the branch of Christianity that originated with the Reformation, a movement against what its followers considered to be errors in the Roman Catholic Church.

American Colonies

The territories in the New World that were controlled by European nations, particularly Britain, before gaining independence to become the United States of America.

Jacob Leisler

A German-American merchant and militia officer who led Leisler's Rebellion in the Province of New York from 1689 to 1691, challenging the authority of the English monarchy.

Rebel Militia

Informal military groups that resist established government forces, often formed in the context of civil war, rebellion, or resistance movements.