Disposable income is not:
A. the amount consumers have to spend on goods and services.
B. income before tax.
C. what consumers base their buying decisions on.
D. total income minus taxes.
Answer: B
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Large denomination time deposits are included in:
A) M1. B) M2. C) M3. D) L.
A sole proprietorship has a single owner receiving the firm's profit and bearing limited liability
Indicate whether the statement is true or false
If the government establishes a target price for particular agricultural products, then
A) the government sets a limit on the quantity of a product that a farmer is allowed to bring to market. B) farmers are paid to take part of their land out of cultivation, the intent being to reduce supply and raise price to the target level. C) farmers are given limits as to the number of acres that can be used to produce a particular product, the intent being to reduce supply and raise price to the target level. D) farmers are paid the difference between the market price of their product and a government-determined price. E) the government establishes a minimum price that farmers will be paid for their product, which causes the farmers to cut back on the number of acres planted in certain products, which, in turn, causes the price to rise to the target level.
As new firms enter a monopolistically competitive industry, the demand curve for an individual firm shifts to the right.
Answer the following statement true (T) or false (F)