Services can be thought of as

A) unvalued goods.
B) unwanted goods.
C) free goods.
D) intangible goods.

Answer: D

Economics

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Using the data in the table above, if the price of a stapler is $8, then there is ________ of staplers and the quantity of staplers demanded ________ the quantity of staplers supplied

A) a shortage; is greater than B) a surplus; is greater than C) a shortage; is less than D) neither a surplus nor a shortage; equals E) a surplus; is less than

Economics

It is difficult to determine if foreign companies are selling their products for prices below their costs of production because

A) domestic taxes increase the firms' costs but it is difficult to determine the incidence of these taxes. B) the firms have no legal obligation to reveal this information. C) costs are calculated in the firms' local currencies. D) the true costs of production are difficult to calculate.

Economics