A seller who is a price taker charges:
A) above the market price.
B) different prices to different buyers.
C) the market price.
D) below the market price.
C
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In a two-period model with production, an anticipated future increase in domestic total factor productivity
A) increases domestic output and increases the current account surplus. B) increases domestic output and decreases the current account surplus. C) has no effect on domestic output and increases the current account surplus. D) has no effect on domestic output and decreases the current account surplus.
An increase in the taxes on electricity production.
A.) Demand is fully satisfied at all alternative prices. B.) The buying intentions of all consumers are realized. C.) The supply intentions of all sellers are realized. D.) The quantity demanded equals the quantity supplied.
Which of the following is not a flow in the circular flow model?
A) the flow of goods and services and the flow of resources to produce goods and services B) the flow of profit and the flow of revenue C) the flow of income earned by households and the flow of expenditures incurred by households D) the flow of revenue received by producers and the flow of payments to resource owners
Refer to the information provided in Figure 31.1 below to answer the question(s) that follow.
Figure 31.1Refer to Figure 31.1. An economic decline is represented by a movement from
A. point C to point A. B. point D to point A. C. point A to point B. D. point B to point A.