Cans of soup purchased by supermarkets but not sold to individuals in the current period
A) are considered intermediate goods, yet still count in the GDP.
B) are considered intermediate goods, thus do not count in the GDP.
C) are considered investment goods and do count in the GDP.
D) are considered investment goods and thus do not count in the GDP.
E) are considered consumption goods but do not yet count in the GDP.
C
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To an economist, scarcity means that:
a. it is very time-consuming to find a good. b. at a zero price, the available quantity of a good is insufficient to meet people's wants. c. a good is unavailable even at very high prices. d. at the current market price, the amount available is less than the amount that people want and are willing to pay for. e. resources are unlimited but people's desires are limited.
According to the figure shown:
A. there is no stable equilibrium to the game.
B. both players will act in their own self-interest and get a stable, but less than optimum, equilibrium.
C. both players will act in their own self-interest and get an optimum equilibrium that is stable.
D. both players have an incentive to charge a low price and undercut the competition.