Another name for a surplus is
A) excess quantity supplied.
B) excess quantity demanded.
C) equilibrium.
D) market clearing.
A
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An HVAC company is selling heating and cooling equipment. Between its sales staff and the VP of Marketing, the sales staff would want to
a. Price aggressively to ensure sales are made b. Price less aggressively to ensure that profitable sales are made c. Price at cost to minimize sales d. None of the above
A production function represents the:
A. relative values of the inputs and modes of production. B. relative costs of the inputs across various modes of production. C. relationship between the quantity of inputs and the quantity of outputs. D. relationship between the cost of the inputs and the revenue generated by the outputs.
If a pair-wise majority vote was held, the voters' preferences are shown in the table, and Bob is setting the agenda for votes, which pair will he put up for vote first?
A. Public zoo and public parks
B. Public transportation and public zoo
C. Public parks and transportation
D. It will not matter, as it will not affect the outcome of the voting.
A tariff is a tax on ____ goods that is designed to ____
a. exported; protect domestic industries b. exported; hurt foreign industries c. imported; made domestic consumers pay more d. imported; protect domestic industries e. domestic; discourage imports