4169402
Beschreibung
Quiz von jrabinovich, aktualisiert more than 1 year ago
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Erstellt von jrabinovich
vor fast 9 Jahre
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Frage 1
Frage
An elasticity greater than 1 is?
Antworten
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Inelastic
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Elastic
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Perfectly inelastic
Frage 2
Frage
What line is used to construct the LRAC?
Antworten
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SRAC
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Demand
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Supply
Frage 3
Frage
What is effective demand?
Antworten
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When you want something but you can't afford it.
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When you want something and you can afford it.
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When you want something but it's frowned upon to have it.
Frage 4
Frage
What would be the strongest substitute good for pepsi?
Antworten
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Polly-o cheese
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Water
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Coca-Cola
Frage 5
Frage
If the demand for milk increases, the supply of leather will decrease.
Antworten
- True
- False
Frage 6
Frage
Fixed costs are?
Antworten
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Cost that vary directly with output.
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Prices that are rigged in order to create an advantage.
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Prices that don't vary directly with output.
Frage 7
Frage
Absolute advantage is when?
Antworten
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One country can produce more of a product than another using the same resources.
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One country has a time advantage over another in terms of war.
Frage 8
Frage
The better the brand name, the better chances it has to survive in a perfect competition scenario.
Antworten
- True
- False
Frage 9
Frage
Utils are the measurement of dollars spent in goods.
Antworten
- True
- False
Frage 10
Frage
What is happening when a point is inside the PDF line.
Antworten
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The country is producing everything efficiently
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The country is at allocative efficiency
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the country isn't producing at prime levels
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