Which of the following is included in the investment component of GDP?
a. Elaine pays her college tuition bill.
b. John's law firm buys him a new computer.
c. Laura buys a bond that McDonald's sells to raise funds.
d. All of the above are correct.
b
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Producer surplus is the area
a. under the supply curve. b. between the supply and demand curves. c. below the price and above the supply curve. d. under the demand curve and above the price.
Which question is an illustration of a microeconomic question?
A. Is the purchasing power of the dollar higher or lower today than it was in 2008? B. Does government spending influence interest rates in the economy? C. Is the volume of wine produced in 1 year dependent on the price of wine? D. Does a government deficit reduce national economic growth?
Silent auctions are an example of what type of price discrimination?
A. First-degree price discrimination. B. Second-degree price discrimination. C. Third-degree price discrimination. D. It is not price discrimination.
If an excise tax is imposed on restaurant meals,
a. fewer meals will be produced and sold b. more meals will be produced and sold c. the government's tax revenue will fall d. the market price of meals will decrease e. restaurants will sell more meals, but at a lower price per meal