Personal consumption expenditures only include expenditures for durable and nondurable goods and services.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Which of the following is an example of an "implicit cost"?
A) Interest that could have been earned on retained earnings used by the firm to finance expansion. B) The payment of rent by the firm for the building in which it is housed. C) The interest payment made by the firm for funds borrowed from a bank. D) The payment of wages by the firm.
__________ inflation will tend to hurt those whose money received, in terms of wages and interest payments, does not rise with inflation.
a. Unexpected b. Expected c. Flat d. Reduced
A monopolist earns $1,000,000 economic profit in the short run producing 25,000 units of a good. The marginal revenue of the 25,000th unit is $23 and the marginal cost is $30 . What should the monopolist do?
a. raise price and produce less than 25,000 units b. lower price and produce less than 25,000 units c. raise price and produce more than 25,000 units d. lower price and produce more than 25,000 units e. produce more than 25,000 units at the same price
Refer to the above graph. The pure monopolist firm will charge a price of:
A. P1. B. P2. C. P3. D. P4.