The economizing problem for society is:
a. That product prices rise more rapidly than incomes of consumers
b. To establish prices which are fair for both producers and consumers
c. To achieve a more equitable distribution of income in society
d. That productive resources are scarce relative to economic wants
d. That productive resources are scarce relative to economic wants
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The initial supply and demand curves for a good are illustrated in the above figure. If there are technological advances in the production of the good, then the new equilibrium price for the good
A) is less than $6. B) is $6. C) is more than $6. D) could be less than, equal to, or more than $6.
Which of the following is the most closed economy?
a. the Netherlands b. the United States c. Germany d. Russia e. Canada
Under what conditions is it most likely that a corporation will issue new stock as a form of finance?
a. when the interest rate is rising b. when the interest rate is falling c. when the firm's stock prices is falling d. when bond prices are very high
Assume an economy that is producing only one product. Output and price data for a three-year period are as follows. Answer the question on the basis of these data. year units of output price per unit 1 20 4 2 25 4 3 30 6 Refer to the above data. If year 2 is chosen as the base year, real GDP for year 1 is:
a) $25. b) $100. c) $20. d) $80.