The goal of the business firm is maximization of ____, and the goal of the consumer is maximization of ____
a. total sales; income
b. total profit; utility
c. total output; utility
d. total sales; utility
b
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In what ways have financial innovations affected the demand for money?
What will be an ideal response?
Suppose that the market for product X is characterized by a typical, downward-sloping, linear demand curve and a typical, upward-sloping, linear supply curve. If a $2 tax per unit results in a deadweight loss of $200, how large would be the deadweight loss from a $4 tax per unit?
Exhibit 7-1 Consumer Price Index Year ConsumerPrice Index 1 100 2 110 3 115 4 120 5 125 As shown in Exhibit 7-1, the rate of inflation for Year 2 is:
A. 5 percent. B. 10 percent. C. 20 percent. D. 25 percent.
If in the third quarter of 2016 total investment spending was $4,768 billion and depreciation was $3,292 billion, then net investment was equal to:
A. $1,476 billion. B. $3,292 billion. C. $4,768 billion. D. $8,060 billion.