Economic goods are items that
A. are used only by economists.
B. provide satisfaction to users.
C. individuals would pay to get rid off.
D. cannot be sold at any price in the market.
Answer: B
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What is the government purchases multiplier if the tax rate is 0.2 and the marginal propensity to consume is 0.8? Assume the economy is closed
A) 2.78 B) 5 C) 6.25 D) 100
Decision trees are commonly used to illustrate how firms make business decisions that depend on the actions of rival firms. A decision tree has boxes that contain points that represent when firms must make the decisions contained in the boxes
What are these points called? A) decision options B) decision nodes C) option points D) either-or terminals
A U.S. company begins selling its products in France. Despite brisk sales, the company doesn't make enough profit to cover its expenses. When setting prices, the company simply used the same prices in both countries. For example, $5.99 = 5.99 French francs; $2.89 = 2.89 French francs. What risk of international business did the company not consider?
A. Language variations B. Currency fluctuations C. Differences in laws D. Opportunity costs
The best measure of how much output the average person would get if all output were divided evenly among the population would be
A. GDP. B. The capital stock of the economy. C. The economic growth of the economy. D. Per capita GDP.