The theory of creative destruction was advanced many years ago by:
A. Bill Gates.
B. Alfred Marshall.
C. Joseph Schumpeter.
D. Adam Smith.
Answer: C
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Refer to the figure above. If the pre-tax equilibrium price of Good X was $3 and the price that sellers receive after the imposition of a tax of $3 is $2, the incidence of the taxation on sellers is approximately ________
A) 1% B) 15% C) 33% D) 21%
Holding many risky assets and thus reducing the overall risk an investor faces is called
A) diversification. B) foolishness. C) risk acceptance. D) capitalization.
More buyers enter a market Demand increases....
a. Quantity supply lends to increase b. The products are able to use resourcing with higher opportunity cost c. Price of good will raise (or increase) d. All
The difference between total utility and marginal utility is that:
a) Total utility is the complete satisfaction from consuming a good while marginal utility is the satisfaction from consuming one additional unit of a good. b) Both represent the satisfaction obtained from most all goods and services. c) Total utility is the satisfaction from consuming a good while marginal utility is the satisfaction from consuming services. d) Total utility is the satisfaction from consuming one additional unit of a good while marginal utility is the complete satisfaction from consuming a good.