The goal of a seller is primarily to:
A) maximize sales.
B) maximize profits.
C) minimize costs.
D) minimize consumer surplus.
B
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What functions does capital income serve in the economy?
What will be an ideal response?
Deficits and debt are often measured relative to GDP because:
A. the growth in GDP depends on the debt. B. the government's ability to repay the debt depends on GDP. C. this method always makes them appear smaller. D. this method always makes them appear larger.
Last year an economy produced 2400 apples, 3000 pears and 2500 oranges. The price of apples was €0.50, the price of pears was €0.60 and the price of oranges was €0.50. Nominal GDP was:
(a) € 5200; (b) € 6600; (c) € 4250; (d) Cannot be computed.
If income increases by $100 and saving increases by $25, the slope of the consumption function equals
What will be an ideal response?