Why is a woman buying cosmetics at a department store considered a component of the product market?
a. A firm is selling products to a household.
b. The purchase is regulated by the federal government.
c. The product cannot be purchased anywhere else.
d. The purchase price is presumably a small portion of her income.
a. A firm is selling products to a household.
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If fixed cost is $5,000, and, at an output of 3 variable cost is $4,000, how much is average total cost at an output of 3?
A. $1,333.33 B. $3,000 C. $4,500 D. $9,000
Refer to the information provided in Figure 27.1 below to answer the question(s) that follow.
Figure 27.1Refer to Figure 27.1. An aggregate demand shift from AD1 to AD2 can be caused by
A. an increase in government spending. B. a decrease in the price level. C. a decrease in money supply. D. an increase in the price level.
Which of the following goods is least likely to be in a market basket?
A. Helicopter B. Gasoline C. Barbie dolls D. Breakfast cereal
GDP expressed in constant, or unchanging, prices is called -
a. net national product b. real GDP c. price level d. nominal GDP