Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase. How much does Brett value his cell phone?
A) $180 B) $100 C) $80 D) $20
A
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The value of all final goods and services produced during a given time period measures a nation's
A) net exports. B) net national product. C) consumer price index. D) gross domestic product.
The capital and financial account records
A) the current value of the balance of payments in U.S. dollars. B) all the purchases and sales of capital goods in the United States. C) imports and exports of capital goods. D) transactions involving trade, interest payments, and net transfers. E) transactions involving foreign investment in the United States and U.S. investment abroad.
A market in which the Herfindahl-Hirschman Index exceeds 1,800 is considered to be
A) competitive. B) not competitive. C) moderately competitive. D) purely competitive. E) either a monopoly or monopolistic competition.
Each of these is a craft union except
A. the plumbers' union. B. the textile workers' union. C. the musicians' union. D. the air traffic controllers' union.