Self-control issues exist for several areas for most people. Which of the following is not on the usual list?
a. Using credit or debit cards
b. Mail order clubs or buying online
c. Malls, shopping centers or other types of in-person shopping
d. Antiques
D
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A firm that is a price maker can
a. limit output and raise prices. b. ignore the law of demand. c. ignore the elasticity of the demand for the product. d. both limit output and raise prices and ignore the elasticity of the demand for the product.
An increase in the price of inputs used to produce good A will:
a. increase supply, increase price and increase the quantity exchanged. b. increase demand, increase price and increase the quantity exchanged. c. decrease supply, increase price and decrease the quantity exchanged. d. decrease supply, decrease price and decrease the quantity exchanged.
In the macroeconomic model of aggregate supply and aggregate demand, price is:
A. calculated as a weighted average of the prices of all goods and services. B. the measure of the value of all goods and services produced by the economy. C. represented by GDP. D. None of these is true.
Which of the following would not be included in the government consumption expenditures and gross investment (G) category of GDP?
A. The payments made to Social Security recipients. B. The expenditures made to repair a highway. C. The spending for professors at state universities. D. The purchase of new china for White House functions.