Which of the following is NOT a service?
A) physical labor purchased by a producer
B) things purchased by a consumer that do not have physical characteristics
C) a diamond used in an engagement ring
D) tasks performed by someone else
C
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Use the data in the table below to answer the next question. The data describes a hypothetical economy and are denominated in billions of dollars.Disposable income$200Net private domestic investment40Value of imports15National income300Personal taxes31Net exports9Gross private domestic investment55Net foreign factor income10Statistical discrepancy0This nation's exports are ________.
A. $16 billion B. $24 billion C. $9 billion D. $28 billion
Taxes are of interest to
a. microeconomists because they consider how to balance equality and efficiency. b. microeconomists because they consider how best to design a tax system. c. macroeconomists because they consider how policymakers can use the tax system to stabilize economic activity. d. All of the above are correct.
The price that a monopolistically competitive firm will charge depends on what its competitors charge.
Answer the following statement true (T) or false (F)
If the total utility derived from consuming three oysters was 50 utils and the total utility derived from consuming four oysters was 62 utils, what was the marginal utility derived from the consumption of the fourth oyster?
A. 52 utils B. 112 utils C. 12 utils D. It is impossible to determine.