Suppose that Lady Gaga sells 1,000 tickets to a concerts at $480 each
If the equilibrium price is $600 per ticket for a fixed supply of 1,000 tickets, what is the value of the additional economic rent that Lady Gaga could earn if she charged the market clearing price? A) $1,080,000
B) $120,000
C) $600,000
D) $480,000
B
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The demand deposit multiplier is the number by which we must multiply the
a. injection of reserves to get the total change in demand deposits b. total amount of demand deposits to get the total change in the money supply c. level of required reserves to get the total change in the money supply d. total amount of currency in circulation to find total demand deposits e. change in demand deposits to find the total change in the money supply
Wages are used to calculate
A. GDP by the expenditures approach.
B. Net exports.
C. Net subsidies to government enterprises.
D. GDP by the income approach.