The circular flow model represents the establishment of market value for:
a. goods and services.
b. wages and salaries.
c. profits and rents.
d. all of these.
d
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The table above shows how many blouses Katie and Kim will purchase at different prices for a blouse. In the figure, label the axes and put the price on the y-axis and the quantity of blouses on the x-axis. Plot the data for Katie in the figure
Then, plot the data for Kim in the figure.
If the price level in the United States is 110, the price level is 135 in Mexico, and the nominal exchange rate is 12.5 pesos per dollar, what is the real exchange rate from the U.S. perspective?
A) 8.8 B) 10.2 C) 10.8 D) 11.4
Monopolistic competition is an
a. efficient market structure because long-run profits are zero. b. efficient market structure because each firm produces at its efficient scale. c. inefficient market structure because there is deadweight loss. d. Both a and b are correct.
Matt has decided to purchase his textbooks for the semester. His options are to purchase the books online with next day delivery at a cost of $175, or to drive to campus tomorrow to buy the books at the university bookstore at a cost of $170. Last week he drove to campus to buy a concert ticket because they offered 25 percent off the regular price of $16. The benefit to Matt of buying his books at the university bookstore instead of online is:
A. $175 B. $5 C. $170 D. $9