Under a tying contract,
a. the price a buyer must pay for a good is tied to the size of his purchase.
b. a customer agrees as a condition of buying a good to purchase one or more additional goods from the same seller.
c. a firm agrees to allow members of its competitors' boards of directors to sit on its board.
d. a firm agrees to pay an intermediary for having arranged a business deal for the firm.
b
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Private savings is defined as:
a. Y + TR - C - T b. T - G - TR c. Y + TR + C - T d. T + G + TR
Assuming a long-run aggregate supply curve, a decrease in consumer confidence results in ________ in output and ________ in price level
A) a decrease; no change B) a decrease; a decrease C) an increase; no change D) no change; a decrease
Higher indifference curves represent a greater level of utility than lower ones
a. True b. False Indicate whether the statement is true or false
Which of the following is not a component of M1?
A. Currency B. Passbook savings account C. Checking accounts D. Traveler's checks issued by non-banks