If You Have Declared Personal Bankruptcy, That Fact May Be

question 19

Multiple Choice

If you have declared personal bankruptcy, that fact may be reported by credit bureaus for ____________ years.

• A) 5
• B) 10
• C) 15
• D) 20
• E) 25

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Definitions:

Total Surplus

In a market, the complete societal benefits are represented by the combined value of consumer and producer surplus.

Demand

The desire for a particular good or service, backed by the ability and willingness to pay for it.

Supply

The total amount of a good or service available for purchase at any given price level.

Total Surplus

The sum of consumer surplus and producer surplus in a market; it represents the total net benefit to society from the production and consumption of a good.