Which of the following is an advantage of having a marketing cooperative?
a. Sellers get a steady supply of raw materials for their produce.
b. Buyers get a steady supply of finished products.
c. Sellers can save resources they would have spent on marketing and instead specialize in production.
d. Buyers face lower risks of opportunism.
C
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A permanent increase in autonomous investment causes
A) a less than proportional increase in real Gross Domestic Product (GDP). B) a more than proportional increase in real Gross Domestic Product (GDP). C) an offsetting change in saving that leaves real Gross Domestic Product (GDP) at the same level. D) a proportional increase in real Gross Domestic Product (GDP).
The total demand for a public good is found by
A) horizontally summing all individual demands. B) vertically summing all individual demands. C) finding the demand from the median voter. D) dividing the marginal cost of the good by the number of voters.
To economists, the term utility refers to the
a. usefulness of a good in relation to its scarcity b. necessity of a good c. ratio of marginal utility of a good to its price d. quantity of goods a consumer has in reserve, meaning goods unconsumed e. benefit or satisfaction a consumer receives consuming a good
Over time, an increase in the real output and incomes of the trading partners of the United States will most likely
A. increase imports of U.S. goods. B. decrease U.S. exports. C. increase U.S. exports. D. decrease imports of U.S. goods.