The amount of money that a firm receives from the sale of its output is called

In building a model to analyze economic situations, one of the important assumptions is

A) ceteris paribus. B) scarcity. C) conversion abstraction. D) cognitive dissonance.

In foreign exchange markets, a U.S. resident who imports New Zealand apples is:

a. a demander and supplier of New Zealand dollars. b. a demander and supplier of U.S. dollars. c. a demander of New Zealand dollars and a supplier of U.S. dollars. d. a supplier of both New Zealand dollars and U.S. dollars. e. a supplier of New Zealand dollars and a demander of U.S. dollars.