If rising costs have compelled an increase in the price of football tickets for next season, you could safely assume the college athletic director
A) doesn't know the difference between sunk costs and marginal costs.
B) doesn't want fans to become angry or resentful about the price increase.
C) isn't setting prices to maximize net revenue.
D) really has not raised prices.
E) would prefer not to raise prices but has no choice in the matter.
B
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The function of money that enables money to be used for future purchases is called:
A) medium of exchange. B) store of value. C) unit of account. D) measure of power.
The largest component of U.S. federal spending that contributes to the U.S. government budget deficit is
A) entitlements. B) military spending. C) interest expenses. D) salaries of government employees.
If intended investment is $1 billion and unwanted inventory is $0, then we know that
a. all of the following statements are true b. saving = $0 c. consumption = $1 billion d. the economy will grow e. actual investment = $1 billion
If the government imposes a $3 tax in a market, the equilibrium price will rise by $3
a. True b. False Indicate whether the statement is true or false