Given the narrow interpretation of technology, technology will include which of the following?
A) how well firms are run
B) the organization and sophistication of markets
C) the political environment
D) none of the above
D
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Opportunity costs exist for
A. households but not businesses or governments. B. businesses but not households or governments. C. businesses and households but not governments. D. households, businesses, and governments.
The most basic premise of the aggregate expenditures model is that the
A. unemployment level in the economy is inversely related to the inflation rate. B. total output produced in the economy depends directly on the level of total spending. C. level of employment in the economy depends inversely on the real wage rate. D. total output produced depends mostly on the total capacity of firms to produce.
All of the following are true for first-degree price discrimination except which one?
A) Consumers pay less for the first units that they purchase. B) In reality, it is impossible to practice. C) Each consumer pays the maximum price they are willing to pay for every unit purchased. D) Consumers receive no consumer surplus.
A consumer values a car at $30,000 and a producer values the same car at $20,000 . If the transaction is completed at $24,000 . what level of sales tax will result in unconsummated transaction?
a. 0% b. 25% c. 20% d. 40%