The least volatile component of current consumption expenditure is ________, and the changes in its relative importance help explain why the volatility of overall consumption has ________ since the 1950s
A) nondurable goods, risen
B) nondurable goods, fallen
C) durable goods, stayed the same
D) durable goods, fallen
E) services, stayed the same
E
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Consumer surplus is the difference between the highest price someone is willing to pay for a product and the price he actually pays for the product
Indicate whether the statement is true or false
Most Americans
a. have accurate perceptions of the level of corporate profits. b. underestimate corporate profits. c. overestimate corporate profits. d. believe that corporations earn zero profit.
Figure 4-20
Refer to . The price that sellers receive after the tax is imposed is
a.
$8.
b.
$6.
c.
$5.
d.
$3.
The price of the stock divided by the profits per share of stock is known as the
A) price-earnings ratio. B) dividend. C) yield in percent per year. D) number of shares traded during the day.