If the price of oak lumber increases, what happens to consumer<br/>surplus in the market for oak cabinets? () A: Consumer<br/>surplus increases. B: Consumer<br/>surplus decreases. C: Consumer<br/>surplus will not change consumer surplus; only producer surplus<br/>changes. D: Consumer<br/>surplus depends on what event led to the increase in the price of oak<br/>lumber.

Which one is wrong about scarcity? A: The richest countries also have scarcity. B: From the perspective of the formation of scarcity, limited resources are more important than unlimited desires. C: From the perspective of the formation of scarcity, unlimited desire is more important than limited resources. D: Scarcity promotes efficiency.

The paradox of value is illustrated by the fact that A: a pound of bread is cheaper than a pound of gold. B: teens buy designer jeans. C: if diamonds were free they would no longer be useful for engagement rings. D: gold and diamonds occupy little space.

The new value created by labor commodity in the production process is（ ） A: The labor value B: The sum of surplus value and labor force value. C: Commodity value D: Surplus value

What is the total surplus of a market? A: the sum of consumer surplus and producer deficit B: the sum of consumer surplus and producer surplus C: the difference between the consumer surplus and producer surplus D: the difference between the highest price that a consumer is willing to pay and the lowest price that a producer is willing to sell