If the price of iPads falls while demand remains unchanged, then total consumer surplus will ____________.
Fill in the blank(s) with correct word.
Answer: increase
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Expenditures in GDP do not include
A) used goods or financial assets. B) financial assets or investment. C) used goods or investment. D) investment, stocks, or bonds. E) government expenditures on goods and services.
No economist today would claim that
a. marginal productivity analysis is either just or unjust. b. the marginal productivity theory of distribution is a theory of the demand side of the pertinent market. c. payments are made not to factors of production but to the people who happen to own them. d. a productive input's MRP depends in part on how much of it is employed.
International participants
A. Participate only in American product markets. B. Participate only in American factor markets. C. Take no part in American markets. D. Participate in both American factor markets and American product markets.
If you watch a pay-per-view movie on a cable TV, the movie is:
A. an excludable good/service but nonrival in consumption. B. an excludable good/service and rival in consumption. C. a non-excludable good/service but rival in consumption. D. a non-excludable good/service and nonrival.