Category: Economics

The level of GDP at which the total quantity of goods produced equals the total quantity of goods purchased is the level of output. individual equilibrium utility disequilibrium

Offering contributors private goods such as coffee mugs, books, or magazine subscriptions will_ the
◻reduce; smaller
◻reduce; larger
◻increase; smaller
◻increase; larger

Ron advertised his car for sale for $6000, although he was willing to accept $4000. When he finally sells his car for $5500, his
A. $2000.
B. $1000.
C. $500.
D. $1500.

Marginal tax rate indicates the tax rare that is imposed on
All income earned
The last 25% of income earned
The first 10% of income earned
The last dollar income earned

Price discrimination is
always legal.
always illegal.
only illegal if it hurts consumers more than nondiscrimination.
only illegal if used to lessen or eliminate competition.

Question 26Which of the following was NOT a factor of industrialization?
harsh government policies
technological advances
adequate labor supply
new national market to sell to

Multiple Cholce Questlon
The belief that the power of government can be controlled by dividing it into several branches instead of concentrating it in one area is known as

When the price of pizza increased from $16 to $18, production increased from 1,200 to 2,800 pizzas per month.
The supply of pizza is:
Indeterminate
Elastic
Inelastic

Enter the following inputs for your model: Demand interept = 600Demand slope = 3.5Supply intercept = 0Supply slope = 4.5price = $30Fixed costs = 15000variable costs = 25