An economist would say the price is too high for a certain service if
A. poor people couldn’t afford to buy it.
B. nobody could afford to buy it.
C. the price was above marginal cost.
D. it is an essential service and consumes a significant share of income.
Answer: C
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The planned investment function shows that
A) real gross investment falls as real NNP increases. B) a negative relationship exists between the level of planned investment and the interest rate. C) a positive relationship exists between planned consumption and planned investment. D) at higher levels of planned saving, planned investment increases.
One of the elements of monopolization is
A) having a superior product or having a superior business acumen.. B) the possession of monopoly power in the relevant market. C) when only one firm exists in an industry. D) having a significant pricing power due to an accident in the relevant market.
If the real rate of return is 0 percent, and the inflation rate is 3 percent, then the nominal interest rate must be:
A. ?3 percent. B. 3 percent. C. 6 percent. D. 0 percent.
When entering a building, Sam diverts his path to go through an open door rather than make the physical effort to open the closed door that is directly in his path
a. irrational behavior. b. a lazy person. c. marginal benefit-marginal cost analysis. d. programmed learning.