By definition, disposable income is equal to
A. investment plus saving.
B. consumption minus saving.
C. consumption plus investment.
D. consumption plus saving.
Answer: D
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In a perfectly competitive market,
a. one large firm controls the market and sets price, while the other smaller firms behave as price takers. b. all firms produce and sell a homogeneous product. c. the output sold by a particular firm may be quite different from the output sold by the other firms in the market. d. it's difficult for new firms to enter the market due to barriers to entry. e. the products sold by each firm are only slightly different.
The essential logic behind international trade is not different from that underlying trade among different states. Why, then, do we study international trade as a special subject?
What will be an ideal response?
The shape of the firm's marginal revenue curve depends ultimately on whether the firm is
A. a revenue maximizer or a profit maximizer. B. owned by a man or a woman. C. a monopolist or a perfect competitor. D. a market share maximizer or a sales maximizer.
Assuming a long-run aggregate supply curve, an increase in government spending results in ________ in output and ________ in prices.
A. an increase; no change B. no change; an increase C. no change; a decrease D. a decrease; a decrease