Total income from the domestic production of final goods and services equals
a. only household expenditures on these goods and services
b. only household and business expenditures on these goods and services.
c. only household and government expenditures on these goods and services.
d. the expenditures on these goods and services by whoever buys them.
d
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Which of the following events would cause a movement downward and to the left along the supply curve for mangos?
a. The number of sellers of mangos decreases. b. There is an advance in technology that reduces the cost of producing mangos. c. The price of mangos falls. d. The price of fertilizer increases, and fertilizer is an input in the production of mangos.
Which of the following is a determinant of productivity?
a. human capital per worker b. physical capital per worker c. natural resources per worker d. All of the above are correct.
If demand is elastic and price is lowered, total revenue will
A. rise. B. fall. C. stay the same. D. possibly rise and possibly fall.
A monopoly's output decision depends only on the shape of its marginal cost curve
Indicate whether the statement is true or false