Refer to the data. Disposable income is:
Answer the question on the basis of the following data. All figures are in billions of dollars.
A. $83.
B. $73.
C. $75.
D. $77.
C. $75.
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For a given quantity, the total profit of a perfectly competitive firm is equal to the vertical distance between the firm's total revenue curve and its total cost curve
Indicate whether the statement is true or false
How do online auction sites like Ebay attempt to overcome the asymmetric information problems associated with goods that the buyer cannot personally inspect before purchase?
A) The online auction firm only allows high-quality merchandise to be sold at their site. B) The previous performance (reputations) of the buyer and seller are posted for public review. C) Buyers can take receipt of any goods before they have to pay the seller. D) all of the above
If the nominal interest rate is less than the rate of inflation, the real interest rate:
a. will be less than zero. b. will be equal to the nominal interest rate. c. will equal zero. d. will be greater than zero. e. will be equal to the rate of inflation.
A main function of money is to avoid the need for double coincidence of wants. This is the
a. medium of exchange function. b. standard of value function. c. standard of deferred payment function. d. store of value function.