________ is the amount of money a company receives for selling its product or service.
A. Revenue
B. Average marginal revenue
C. Cost
D. Profit
Answer: A
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The forward exchange market:
a. Is a market for current deliveries but future payments. b. Handles transactions for individuals or companies who would like to lock in now the price of future exchange rate payments or receipts. c. Is a market with no default risk. d. Provides sufficient liquidity for almost any transaction with a maturity up to 5 years and amount up to $1.9 trillion a day. e. Is called "forward" because the dealers are likely to ask you out for a date.
The demand for a good becomes more inelastic
a. as more close substitutes for it become available. b. as it is increasingly viewed as a luxury good. c. as the market is defined more broadly. d. the longer the time horizon.
A shortage of kidneys (for transplants) results from
A) the legal price being set below the equilibrium price. B) the legal price being set above the equilibrium price. C) a price floor being set in the kidney market at P = $0, assuming the equilibrium price is greater than $0. D) a price ceiling being set in the kidney market at P = $0, assuming the equilibrium price is greater than $0. E) a and d
In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of:
A. all consumers. B. buyers and sellers. C. producers and input suppliers. D. producers and government planning committees.