One criterion used to judge the performance of any economic system is
A. equity.
B. nominal growth.
C. inflation.
D. revenue generation.
Answer: A
You might also like to view...
Suppose price is measured along the vertical axis on a graph. When price changes, there will be a
a. rotation of the curve. b. shift of the curve. c. movement along the curve. d. change in the slope of the curve.
Once a book has been written, would an author facing an inelastic demand curve for the book prefer to raise or lower the book's price? Why?
A. The author would raise or lower the price. Because the author's cost is a sunk cost, any increase or decrease in price will increase revenue and profit. B. The author would prefer to raise the book's price. Raising prices when demand is inelastic increases revenue. Because the author's cost is a sunk cost, profit also rises. C. The author would prefer to lower the book's price. Lowering prices when demand is inelastic increases revenue. Because the author's cost is a sunk cost, profit also rises. D. The author would not change the price. Because the author's cost is a sunk cost, any change in price will decrease revenue and profit. References
In 2008, several banks had a:
A. solvency problem, and the Fed kept them all from going bankrupt. B. confidence problem, and would not lend enough to keep from going bankrupt. C. reserve problem, and did not have enough funds on hand to lend to keep from going bankrupt. D. solvency problem, and eventually went bankrupt as a result.
If a casino locates in a small suburban/rural area within 20 miles of a larger city that already has a casino, the degree of "local substitution" is likely to be
A. actually negative. B. nearly zero. C. nearly complete. D. significant.