Total revenue is equal to quantity multiplied by average revenue.
Answer the following statement true (T) or false (F)
True
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The equilibrium of aggregate supply and aggregate demand represents the:
A. overall state of the national economy. B. total of all goods and services produced in the major sectors of the economy. C. general price level of the economy with respect to goods and services households purchase. D. All of these are true.
Assume you borrow funds to buy a new car at 5 percent interest and you think that the economy-wide rate of inflation over the life of the loan will be 4 percent. If you are correct in your assumption, your real rate of interest on the car loan will be
A. 5 percent. B. 4 percent. C. 1 percent. D. 2 percent.
Humberto is the chief operational officer (COO) of the SodaSopa Company and currently serves on the board of directors of the Helium Company of America. Humberto is considered ________ of the Helium Company of America
A) a managing director B) an inside director C) an unpaid advisor D) an outside director
You are analyzing the demand for good X. Which of the following will result in a shift to the right of the demand curve for X?
A) A decrease in the price of X B) An increase in the price of a good that is a complement to good X C) An increase in the price of a good that is a substitute for X D) all of the above