The maximum price a buyer is willing to pay for a good is called:
a. cost
b. willingness to pay.
c. equity.
d. efficiency.
b
You might also like to view...
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Which of the following assets is the most liquid?
a. Money. b. Gold. c. Land. d. Stocks.
Assume that Sharon purchases $5,000 worth of a stock. To do so she uses $1,000 of her own money and borrows the remaining $4,000 at a 7.0% interest rate. If the stock's value decreases by 10% in one year and she has to sell the stock at that time, what is her rate of return?
a. ?10% b. ?50% c. ?78% d. ?156%
Price indexes allow comparisons of dollar figures over time and provide us a sense of how the economy is changing
a. True b. False Indicate whether the statement is true or false