Total revenue can be defined as:
A. the amount that a firm receives from the sale of goods and services.
B. the amount that a firm spends on all inputs that go into making a good or service.
C. the total amount a firm spends on all inputs used in production.
D. the total number of sales of a good or service by a firm.
A. the amount that a firm receives from the sale of goods and services.
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Consider a demand curve that has a constant elasticity value of 0. What happens to quantity demanded and total revenue when price increases?
A) The quantity demanded does not change but total revenue decreases. B) The quantity demanded and total revenue fall to zero. C) The quantity demanded and total revenue remain the same. D) The quantity demanded does not change but total revenue increases.
The more bowed out the Lorenz curve is, the
A) more equal the distribution of income. B) less equal the distribution of income. C) richer the society. D) poorer the society.
The market for loanable funds is a market in which:
A. savers supply funds to those who want to borrow for their investment spending needs. B. borrowers buy and sell loans. C. savers interact to set the interest rate for loans. D. borrowers supply funds to savers, who want loans for their investment spending needs.
One way to predict the future profitability of a company is through:
A. technical analysis. B. fundamental analysis. C. using current prices. D. All of these are ways to predict a company's worth.