If a consumer buys a good, we know that their willingness to pay:
A. is greater than its price.
B. is less than its price.
C. is equal to its price.
D. is either greater than or equal to its price.
Answer: D
You might also like to view...
Crowding out occurs because lower interest rates discourage saving and make it harder to borrow
a. True b. False Indicate whether the statement is true or false
Suppose the firm's total revenue is $4,000 and its total cost is $1,200 . We know, then, that the firm
a. should produce more to maximize profit b. should lower its price to maximize profit c. should lower average total cost to maximize profit d. should stay where it is because it's maximizing profit e. can't determine what it should do with that incomplete information
A nation's domestic investment is greater than its savings. Which of the following is correct?
a. This nation has a negative net capital outflow. b. This nation has a trade surplus. c. Purchases of foreign assets by domestic residents exceed purchases of domestic assets by foreigners. d. All of the above are correct.
Technological advances generally result in
A) increased average number of hours worked per day. B) increased infant mortality rates. C) decreased incomes. D) increased life expectancy.