The price per unit times the total quantity sold is
A. total revenue.
B. average revenue.
C. marginal revenue.
D. price revenue.
Answer: A
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Refer to Figure 18-6. Which country has the more unequal distribution of income?
A) Syldavia B) Islandia C) They may have the same absolute income distribution although their relative income distribution is different. D) There is insufficient information to answer the question.
Supply will become more elastic when
A) a time period lengthens. B) the time period shortens. C) the good is important to consumers. D) there are good substitutes for the goods.
?Exhibit 10A-1 Aggregate demand and supply model
Given the shift of the aggregate demand curve from AD1 to AD2 in Exhibit 10A-1, the real GDP and price level (CPI) in long-run equilibrium will be:
A. $8 billion and 150. B. $12 billion and 200. C. $8 billion and 250. D. $8 billion and 200.
Suppose that the required reserve ratio is 20 percent and you deposit $50,000 of currency into Comerica Bank. What is the potential increase in deposits in the banking system brought about by your deposit? What is the potential change in the money supply?
What will be an ideal response?