A market based firm
A) still needs structure.
B) needs no structure.
C) is really not a firm.
D) none of these choices.
A
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Brendon is willing to pay $3,000 for a PlayStation. If the market price of the PlayStation is $2,000 . then: a. Brendon will not buy the PlayStation because the marginal utility derived from it is very low
b. Brendon will not buy the PlayStation because it is an illegal transaction. c. Brendon will buy the PlayStation because the price he is willing to pay is more than the market price. d. Brendon will buy the PlayStation because his total utility will increase.
The opportunity cost of holding money is:
A. the nominal interest rate. B. the rate of inflation. C. the real interest rate. D. the nominal interest rate less the cost of converting a bond to cash.
International data on GDP and socioeconomic variables
a. are inconclusive about the relationship between GDP and the economic well-being of citizens. b. suggest that poor nations actually might enjoy a higher standard of living than do rich nations. c. leave no doubt that a nation's GDP is closely associated with its citizens' standard of living. d. indicate that there are few real differences in living standards around the world, in spite of the large differences in GDP between nations.
Which of the following is a component of aggregate demand?
A. Net exports B. Taxes C. Government revenues D. Income