The Consumer Surplus Is

question 26

Multiple Choice

The consumer surplus is

• A)the area under the demand curve form the origin to the quantity purchased.
• B)the area under the supply curve form the origin to the quantity produced.
• C)the area under the demand curve but above the price line from the origin to the quantity purchased.
• D)the area under the supply curve but below the price line from the origin to the quantity purchased.

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Definitions:

Major-Party Presidential Ticket

The combination of a presidential candidate and vice-presidential candidate representing one of the two major political parties in the United States during an election.

Welfare State

A system in which the government undertakes to protect the health and well-being of its citizens, especially those in financial or social need, by means of grants, pensions, and other benefits.

Trickle-Down Economics

An economic theory suggesting that benefits given to the wealthy or businesses will eventually trickle down to everyone in the form of investments and jobs.

Tax Revenues

The income that is gained by governments through taxation, which is used to fund public expenditures.