An Unexpected Change in an Exogenous Variable Is Known as

question 34

Multiple Choice

An unexpected change in an exogenous variable is known as

• A)a shock.
• B)a fluctuation.
• C)an anachronism.
• D)a calibration.

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Definitions:

Total Surplus

The sum of consumer surplus and producer surplus in a market, indicating the total benefits received by all parties involved in transactions.

Ugandan

Relating to Uganda or its people, culture, and geography.

Coffee

A drink produced from brewing the roasted seeds of the Coffea plant's berries, known as coffee beans.

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.