In 2015, ZVX motors sold 17,241 units of their latest superbike, the ZVX-1200 . Each ZVX-1200 costs $9,763 to the company, and is sold at a price of $17,255 per unit. The total revenue earned by ZVX motors in 2015 is:
a. $297,493,455.
b. $297,442,463.
c. $168,323,883.
d. $165,131,644.
a
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In a certain monopolistically competitive market that is characterized by high prices and equally high-quality merchandise, if a firm's competitors begin to successfully introduce new products that cut into the firm's market share, the firm's best counter-strategy is to:
a. raise prices in order to increase the revenue. b. introduce few new products in order to meet competitors head on. c. reduce its advertising budget in order to save costs. d. ignore its competitors and hope its customers' loyalty carry it through the threat. e. look to the government for protection.
If the Fed wanted to prevent a change in money demand from affecting real GDP, which of the following rules would be feasible and allow the Fed to attain its goal?
a. Keep government spending constant b. Keep the money supply constant c. Keep money demand constant d. Keep taxes constant e. Keep the interest rate constant
The price elasticity of demand measures the responsiveness of the quantity:
a. demanded to changes in product quality. b. demanded to changes in income. c. demanded to changes in price. d. of supply to changes in demandf
Expenditure-switching policies designed to improve a current account deficit
A) turn domestic spending towards domestic goods. B) reduce the overall level of demand in the economy. C) turn domestic spending towards foreign goods. D) increase the overall level of demand in the economy.