Arbitrage is the act of buying at one place and selling at another place in order to profit from the price differences that exist between the two places.

Social regulation is focused on all of the following EXCEPT

A) the impact of production on the environment and society. B) better working conditions, and safer and better products. C) a better quality of life through a less polluted environment. D) ensuring costs are minimized and benefits are maximized.

At the equilibrium level of income it must be true that total

a. income equals total spending. b. product equals total output. c. output equals total inventory. d. income equals total saving.