In economics, the total amount received for selling a good or service is referred to as
A) revenue. B) factor payments. C) profit. D) capital gains.
A
You might also like to view...
In making labor supply decisions, ________ weigh the market wage against the value of leisure and time spent in unpaid household production.
A. households B. businesses C. financial markets D. None of the above is correct.
Which of the following is not a rationale for protectionist policies?
A. Improve the welfare of domestic consumers. B. Protect domestic workers from foreign competition. C. Help domestic firms establish a world monopoly in a particular market. D. Protect an infant industry from foreign competitors.
The first economist to systematically analyze market failure was
A) Adam Smith. B) J. E. Meade. C) Ronald Coase. D) A. C. Pigou.
It is useful to study the Solow growth model because
A) it provides a useful account of the reasons for population growth. B) it is useful in understanding the sources of economic growth after 1800. C) it has a steady state. D) it can help us understand the reasons for population control.