Each former president receives the same salary as a current member of the Presidential Cabinet. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life.ach former president receives the same salary as a current member of the Presidential Cabinet. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life.
An economic surplus is also known as total welfare. An economic surplus is related to money, and it reflects a gain in the expected income from a product. There are two types of economic surplus: consumer surplus and producer surplus. Consumer surplus occurs when the price for a product or service is lower than the highest price the consumer would pay. For example, think of it like an auction: a buyer walks into an auction with a set price limit he or she will not exceed.
Graphically, producer surplus is the shaded region just above the supply curve, but below the equilibrium price level. Key Terms. producer surplus: The amount that producers benefit by selling at a market price that is higher than the lowest price at which they would be willing to sell. Producer surplus is the difference between what price producers are willing and able to supply a good for and what price they actually receive from consumers. It is the extra money, benefit, and/or utility producers get from selling a product at a price that is higher than their minimum accepted price, as shown by the supply curve.