Inventories are goods that can be considered as “purchased” by
A. the firms that produce them.
B. the consumers that ultimately buy them.
C. the government since they are tax deductible.
D. no one since they are not counted as part of GDP.
Answer: A
You might also like to view...
Supply is elastic if
A) a 1 percent change in price leads to a larger percentage change in quantity supplied. B) a 1 percent change in price leads to a smaller percentage change in quantity supplied. C) the slope of the supply curve is positive. D) the good in question is a normal good.
According to the theory of rational expectations, the "fooling" of workers in Friedman's model
A) is rational, since sudden unforeseeable changes in aggregate demand can and do occur. B) is rational, since workers are always on their labor supply curve. C) is not rational, since workers should learn to immediately link unexpected wage changes to wrongly-forecast price levels. D) is not rational, since workers are often thrown off of their labor supply curve.
A monopsonist will buy ________ units of input than a competitor, and will pay ________ per unit
A) fewer; less B) more; less C) fewer; more D) more; more
When a binding price floor is imposed on a market, a. price no longer serves as a rationing device
b. the quantity supplied at the price floor exceeds the quantity that would have been supplied without the price floor. c. only some sellers benefit. d. All of the above are correct.