A legal maximum on the price at which a good can be sold is called a price
a. floor
b. subsidy.
c. support.
d. ceiling.
d
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Selling a product in a foreign nation at a price less than its cost of production is called
A) infant-industry exploitation. B) absolute advantage. C) dumping. D) net exporting.
Imagine Tom's annual salary as an assistant store manager is $30,000, he owns a building that rents for $10,000 yearly, and his financial assets generate $1,000 per year in interest. One day, after deciding to be his own boss, he quits his job, evicts his tenants, and uses his financial assets to establish a bicycle repair shop. To run the business, he outlays $15,000 in cash to cover all the costs involved with running the business, and earns revenues of $50,000. What are Tom's accounting profits?
A. $50,000 B. $24,000 C. $35,000 D. $6,000
Price-discriminating, profit-maximizing monopolists charge higher prices to buyers who have more elastic demand curves
a. True b. False
The component of aggregate expenditure that is not like other components because, in general, it is directly neutral to macroeconomic changes is:
A. consumption spending. B. investment spending. C. government spending. D. net export spending.