The final goods businesses keep for themselves are called
A) assets.
B) savings.
C) investment.
D) sunk costs.
E) intermediate goods.
C
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The ________ the expected profit, the greater is the ________
A) lower; investment demand B) higher; investment demand C) lower; capital stock D) None of the above answers is correct
If pizza is measured on the horizontal axis and pretzels are measured on the vertical axis, the slope of the production possibility frontier at a given combination reflects
A) the total cost of producing that combination. B) the total cost of producing that quantity of pizza in terms of pretzels. C) the cost of making the last pizza in terms of pretzels. D) the cost of making the last pretzel in terms of pizza.
When the government charges an output tax to eliminate an externality, it forces the manufacturer to ________ the negative externality
A) charge customers for B) internalize C) stop producing D) increase the production of
Suppose demand for a good is QD = 100 - P and supply is QS = -20 + P. Suppose that a nationwide quota (of 20) is enforced so that more can be used in a war effort. What is the consumer surplus?
a. 200 b. 400 c. 600 d. 800