Total revenue is equal to
A) the change in price resulting from a one-unit increase in quantity sold.
B) the amount people will buy at a given price.
C) the change in the quantity sold when you change the price by one unit.
D) price multiplied by the quantity sold.
E) the price at which the good or service is sold.
D
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"Privatization of government owned industries is a more desirable way to operate an economy" is a ________ statement about ________ policy.
A. normative; monetary B. positive; structural C. normative; structural D. positive; fiscal
The international agreement on intellectual property administered by the WTO is known as __________.
A. GATT B. NAFTA C. TRIPS D. WTOP
Refer to Figure 4-1. If the market price is $1.00, what is the maximum number of burritos that Arnold will buy?
A) 1 B) 2 C) 3 D) 4
A stock market crash which causes stock prices to fall should cause
A) an increase in wealth. B) an increase in consumption spending. C) no change in consumption spending. D) a decrease in consumption spending.