When disposable income is 3500, induced consumption is
A. -500.
B. 0.
C. 500.
D. 750.
C. 500.
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The value of resources devoted to rent seeking will
A) at most equal the monopoly's economic profit. B) reduce deadweight loss. C) reduce consumer surplus. D) raise output to an efficient level.
If Cruise the World advertises a 30 day low-price guarantee that will refund any of its customers the difference between the price they paid for a cruise and a lower price offered by Cruise the World for the same cruise, this is an example of ________.
A) a meet-the-competition clause B) a most-favored-customer clause C) price visibility D) a meet-or-release clause
If something is to serve as money it must be a store of value. This means that it must
A) be divisible. B) be the standard by which all goods are compared in setting prices. C) hold its purchasing power over time. D) be liquid.
If there is an excess supply of money in the money market, there must be an excess supply of bonds in the bond market
a. True b. False