Answer: By the end of the year I would be worst off
Explanation: This is because my savings would shrink ,although an interest is paid on the fixed account, the interest is not increasing at the rate at which the inflation is growing.
At any time savings don’t increase at the same rate as inflation, the owner of the fixed savings account will effectively lose money.
This is because with an increase in inflation comes a reduction in the buying power of an individual.
Answer:
economics a situation in which the market demand for a commodity is greater than its market supply, thus causing its market price to rise.
Explanation:
this is the definition. hope this helps.
Answer:
C) amount a consumer is willing to pay minus the amount the consumer actually pays.
Explanation:
Consumer surplus is a situation in which a consumer is willing to pay more for a product but he/she actually pays less that is he pays a lesser price compared to what he is willing to pay.
For example, a consumer is willing to pay $5 for a magazine but when he got to the mall, the price of the magazine is $4. The consumer surplus will be price he is willing to pay minus the price he bought it.
Consumer surplus= $5-$4
=$1
Consumer surplus is the difference between between the willing price of a consumer and the actual price paid(lesser than the willing price). It is a benefit to the consumer because they pay less than what is expected at the same value of satisfaction.
Consumer surplus is represented on a supply and demand curve by the area between the equilibrium price and the demand curve.
Over the past century, real GDP per person in u. s. has grown about <u>2</u> percent per year, which means it doubles about every <u>35</u> years.
GDP measures the monetary value of final goods and services—that is, the ones that might be sold with the aid of the final consumer—produced in a country in a given time frame (say 1 / 4 or 12 months). It counts all the output generated inside the borders of a country.
Gross home product is the economic degree of the marketplace price of all the final items and services produced in a selected term by using nations. because of its complicated and subjective nature, this degree is regularly revised before being taken into consideration as a dependable indicator.
GDP may be calculated by using adding up all of the cash spent by using purchasers, businesses, and the authorities in a given length. it could additionally be calculated by including up all of the money obtained by way of all the contributors inside the financial system. In either case, the range is an estimate of "nominal GDP."
Learn more about GDP here brainly.com/question/8342414
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