Producers favor a ________ because ________
A) price ceiling; the equilibrium price increases
B) price support; the deadweight loss is minimized
C) price ceiling; total revenue increases
D) price support; total revenue increases
E) price ceiling; consumer surplus increases
D
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Within the circular flow model, which of the following is not represented as a flow of funds into firms?
A) Foreign purchases of goods and services. B) Income payments. C) Consumption spending. D) Government purchases.
When Kim in Korea buys stock in GE (General Electric), NCO:
A. decreases. B. is unaffected. C. increases. D. is zero.
If the price of tofu falls, the quantity of tofu demanded will increase, but the demand curve for tofu will remain unchanged
Indicate whether the statement is true or false
Which of the following represents the marginal productivity theory of income distribution?
a. Workers receive wages and benefits equal to their contribution to output. b. Capital owners are rich because they take the most income from output. c. Land owners receive an increased share of income because of property rights. d. Workers, land owners, and capital owners all receive equal shares of income.