For firms that sell one product in a perfectly competitive market, the market price:
A. is equal to the average total cost of a firm.
B. is equal to the marginal cost of a firm.
C. will remain constant regardless of an individual firm's output decision.
D. All of these are true.
Answer: C
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The components of aggregate expenditure are consumption expenditure,
A) investment, government expenditure on goods and services, and net exports. B) investment, government expenditure on goods and services, and net taxes. C) interest, government expenditure on goods and services, and net exports. D) investment, government expenditure on goods and services, and net income. E) interest, gross spending, and net spending.
If 1 U.S. dollar exchanges for 7.0 Chinese Yuan, how much would it cost in U.S. dollars and cents to purchase a Chinese toy priced at 140 Yuan?
What will be an ideal response?
The Condorcet paradox implies that the order in which items are voted on under majority rule is unimportant
a. True b. False Indicate whether the statement is true or false
Bob deposits $100 in a bank account that pays an annual interest rate of 5 percent. A year later, Bob withdraws his $105 . If inflation was 2 percent during the year the money was deposited, then Bob's purchasing power has increased by 3 percent
a. True b. False Indicate whether the statement is true or false