In economics, the total amount received for selling a good or service is referred to as
A) revenue.
B) profit.
C) capital gains.
D) factor payments.
Answer: A
You might also like to view...
You are participating in a reality show in which you and several other competitors have been taken to an unknown place and asked to find your way to a destination using a map . You were doing a good job until you reached a crossroad
Confused as to which way to take, you decided to take the road that most of your competitors chose. a) What is the term that is used to refer to such behavior? b) Why do people often behave in this way?
The table above provides information about the marginal private benefit for education
The marginal private cost, which also equals the marginal social cost, of educating a student is $16,000 per year and does not change as more students are educated. There is an external benefit from education that is equal to $12,000 per student year and does not change as more students are educated. What is the efficient amount of education? A) 40,000 student-years B) 60,000 student-years C) 80,000 student-years D) 100,000 student-years
Firms are more likely to find themselves in a prisoner's dilemma in sequential games as opposed to simultaneous games
Indicate whether the statement is true or false
Which of the following is an example of a progressive tax?
a. The excise tax on cigarettes. b. The federal tax on gasoline. c. The federal personal income tax. d. All of these.