Use the above figure. Refer to the above diagram where curves (a) through (d) are for four different countries. Income is most unequally distributed in
A) Country A.
B) Country B.
C) Country C.
D) Country D.
D
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Firms are better off using rebates rather than just lowering the price of a good because
A) people view the firm in a positive light because now poorer people will be able to afford their good. B) customers overestimate the value of the rebate and so buy more of the good, making profits higher than if they just lowered the price. C) only those who place a low value on their time or are price sensitive actually redeem the rebate, making profits higher than if they just lowered the price. D) lowering the price is inefficient and creates additional deadweight loss.
In making a cost-benefit analysis of whether to purchase a parking permit for on-campus parking, the benefit of buying a parking permit includes:
a. the time saved by not having to look for parking on the street. b. the ability to pay the price of the parking permit. c. the need of the student body to support campus policies. d. the cost of gasoline burned on the way to school.
If you wanted to measure whether the output of an economy was increasing or decreasing across time periods, you would use the real GDP data rather than the nominal GDP data because
What will be an ideal response?
Refer to the given table. Suppose the columns in this table reflect demand and supply. At a price of $30:Price Per UnitColumn A Units Per YearColumn B Units Per Year$2010040$309550$408060$506570$605080
A. the market will be in equilibrium. B. there will be an excess demand of 95 units. C. there will be an excess demand of 45 units. D. there will be an excess supply of 45 units.