Consumption goods and services include
A) washing machines and tickets to football games.
B) new homes and existing homes (as long as improvements have been made to the existing home).
C) tickets to concerts and medical care provided to veterans by the government.
D) new and used textbooks as long as they are sold via stores or online.
E) vacation time accumulated by workers.
A
You might also like to view...
Eric is maximizing his total utility through his choices of two goods: clothes and food. His marginal utility of clothes is 60 and his marginal utility of food is 12 . The price of clothes is $20 . What must be the price of food?
a. 12. b. 6. c. 4. d. 1. e. 0.
People in the city of Maurus have a flatter demand curve for television sets than people in the city of Sienna. It can be concluded that a producer of television sets can price discriminate by charging a higher price in Maurus than in Sienna
Indicate whether the statement is true or false
According to Nobel Laureate, Amartya Sen, which of the following measures should not be included in a balanced scorecard for economic growth?
a. Wide-spread access to basic life-sustaining amenities. b. Freedom to pick from a wide range of social and economic choices. c. Better self-esteem through higher standards of living. d. Currency appreciation due to balance of payments surpluses. e. All the above are proper measures in the balanced scorecard approach to growth.
Refer to the diagram. Assuming equilibrium price P 1 , producer surplus is represented by areas:
A. a + b.
B. a + b + c + d.
C. c + d.
D. a + c.