The maximum price that a consumer is willing to pay for a good is called:
A) the reservation price.
B) the market price.
C) the first-degree price.
D) the block price.
E) the choke price.
A
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If total costs are $18,000 for the year, and the firm has fixed costs of $12,000, what is the level of the firm's variable costs?
What will be an ideal response?
Refer to Figure 33-4. If the economy is in long-run equilibrium, then an adverse shift in aggregate supply would move the economy from
1. A to B 2. C to D 3. B to A 4. D to C
Per capita gross national income (GNI) decreases when
A. GNI increases and the population does not change. B. GNI and the population decrease at the same rate. C. GNI does not change and the population increases. D. GNI and the population increase at the same rate.
A Constitutional amendment requiring that the federal government budget be balanced annually would have
A. overall positive impact upon the economy during any stage of a business cycle. B. an automatic stabilizing impact upon the economy. C. an automatic destabilizing impact upon the economy. D. overall neutral impact upon the economy.