If accounting profits are positive then economic profit is positive
Indicate whether the statement is true or false
False
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If consumers' surplus is $30 and the price paid for the good is $50, then the maximum price a buyer is willing and able to pay for the good is
A) $80. B) $30. C) $50. D) $20. E) There is not enough information to answer the question.
How do countries protect their domestic economy from excessive influence by multinational corporations?
(A) By requiring the multinationals to export a certain percentage of their products. (B) By raising the price of goods and services provided by the multinationals. (C) By limiting the supplies of the multinational corporations. (D) By developing their internal economies.
Which of the following is directly included in the calculation of GDP?
A. The final sale of a brand new Cadillac. B. The appreciation in value of shares of stock. C. The sales of land to a builder. D. The sales of sand to a glassmaker.
The expression "getting the most bang for your buck" is an illustration of the
A) total utility/price ratio. B) total utility/marginal utility ratio. C) marginal utility/price ratio. D) marginal utility/total utility ratio.