Which of the following best explains what is happening when disposable income equals zero?
a. All consumption has ceased.
b. Income is positive but stagnant.
c. All money is being saved instead of spent.
d. Savings or credit is being used to pay for necessities.
d. Savings or credit is being used to pay for necessities.
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Refer to Figure 13-3. Which of the points in the above graph are possible short-run equilibria but not long-run equilibria? Assume that Y1 represents potential GDP
A) A and B B) B and D C) A and C D) C and D
A photograph processing machine company requiring customers who buy a processing machine to purchase chemicals and photographic paper from it is an example of
A) bundling. B) a requirement tie-in sale. C) quantity discrimination. D) a two-part tariff.
Of the 2.2 million working farms in the U.S., _________ of them produce more than $5,000 worth of agricultural products.
A. one quarter B. half C. three quarters D. one third
Which of the following combinations of goods is in line with a cross-price elasticity equal to zero?
A) Pancakes and maple syrup B) Kentucky fried chicken and Dove deodorant C) Pepsi and Dr. Pepper D) None of the above