In the case study discussed in the chapter, the electronics firm was actually enhancing its profits by selling calculators at a price that was below average cost.
Answer the following statement true (T) or false (F)
True
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The textbook cautions against speaking of "the people" as wanting a particular good
A) because it is not clear in what sense groups as distinct from individuals can ever have wants. B) because people rarely know what they themselves really want. C) because the wants of the people are relevant only in a democracy. D) because assertions about "the people" confuse economics with politics. E) unless the majority has clearly voted for it.
The following would cause an upward shift in the C + I + G + X curve EXCEPT
A) an increase in disposable income. B) an increase in export spending. C) a decrease in import spending D) an increase in household wealth.
According to recent public opinion polls, what percentage of Americans are satisfied with the quality of the medical care they receive?
a. 40 percent b. 80 percent c. 15 percent d. 70 percent e. 60 percent
Which of the following phrases would be used to describe an income amount?
A. Per year B. Per month C. Per week D. All of the above are correct.