The most direct way in which money eliminates the need for a double coincidence of wants is through its use as a medium of exchange
Indicate whether the statement is true or false
TRUE
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If the Slamdunkers can sell 5000 season tickets for $100 and 6000 season tickets only by lowering the price (for all purchasers) to $80, our best estimate of the marginal revenue from sale of the 550th season ticket is
A) $100. B) $90. C) $80. D) -$20.
The fact that voters perceive their votes as unlikely to actually change the outcome of an election causes
a. voters to have little incentive to become informed about candidates and political issues. b. voters to spend a great deal of effort becoming informed about candidates and political issues. c. the percent of people who actually turn out to cast a vote on election day to be very high. d. people to be extremely reluctant to "waste" their votes on a third-party candidate.
Undesired inventory depletion results in demand-pull inflation.
Answer the following statement true (T) or false (F)
According to the theory of economic Darwinism, in the absence of barriers to entry, firms that survive in the long run are those that:
A. do not compete with other firms in the industry on quality. B. provide productivity-based incentives to the employees. C. follow the most ethical practices. D. deliver products consumers want at the lowest cost.