In order to improve living standards for future generations, the economy must
a. sacrifice consumer goods today.
b. reduce its investment goods.
c. increase government spending.
d. reduce growth in the population.
a
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Which of the following equations represents the equation of exchange?
A) PM = VY B) MY = PV C) MV = PY D) M = VP/Y
Price discrimination allows the firm to
a. segment the market and thereby capture consumer surplus b. create excess demand which will force price upward c. shift the equilibrium price to eliminate price competition among discriminating buyers d. behave like a monopolist e. select a small set from among its customers in order to charge the highest price possible
If interest rates increase, what is most likely to happen to the total expenditure schedule?
A. It will increase because G increases. B. It will decrease because I decreases. C. It will decrease because (X – IM) decreases. D. It will increase because I increases.
In economics, the difference between a firm's revenues and its costs is referred to as
A) physical capital. B) profit. C) capital gains. D) factor payments.