National income accounting is
A. a measure of consumer income.
B. used by accountants to calculate the tax obligations of multinational corporations.
C. used by businesses to calculate their profits during a given year.
D. a system utilized to measure macroeconomic activity.
Answer: D
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Consumption expenditures include all of the following EXCEPT
A) going to a concert. B) having your house cleaned by Klean Maids. C) buying a pizza. D) purchasing a share of stock.
The marginal revenue curve for a monopolist is the same as its demand curve
a. True b. False Indicate whether the statement is true or false
When the Consumer Price Index increases from 100 to 120
a. more money is needed to buy the same amount of goods, so the value of money falls. b. more money is needed to buy the same amount of goods, so the value of money rises. c. less money is needed to buy the same amount of goods, so the value of money falls. d. less money is needed to buy the same amount of goods, so the value of money rises.
Suppliers often reduce prices because they
a. have a shortage of products to sell b. have a surplus of products to sell c. want to decrease consumer demand d. want to reduce profits and go out of business