Consumersurplus - Study guides, Class notes & Summaries

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TEST BANK FOR PRINCIPLES OF MACROECONOMICS 7TH EDITION BY GREGORY MANKIW

TEST BANK FOR PRINCIPLES OF MACROECONOMICS 7TH EDITION BY GREGORY MANKIW
Exam (elaborations) • 289 pages • 2022

. Which of the following is not correct? a. Economists use some familiar wordsin specialized ways. b. Economics hasits own language and its own way of thinking, but few other fields ofstudy do. c. Supply, demand, elasticity, comparative advantage, consumersurplus, and deadweight loss are allterms that are part of the economist’s language. d. The value of the economist’slanguage lies in its ability to provide you with a new and useful wayof thinking about the world in which you live. A...