Which of the following is not included in personal consumption?
A. Purchases of new construction by consumers
B. Payments for cable and Internet services to homes
C. New furniture and appliances bought by homeowners
D. Food purchased at supermarkets
Answer: A
Economics
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______ adjust(s) when supply and demand change.
a. Prices b. Taxes c. Government regulations d. Technology
Economics
Suppose robotic technology improves the results of abdominal surgery—less time to perform the surgery, faster recovery times, and fewer mistakes. What is the impact on the market for abdominal surgery using this new technology?
a. Demand for robot-assisted surgery will increase.
b. Hospitals will be slow to adopt the new technology fearing that it may result in lower prices.
c. The demand for surgical assistants will increase.
d. All of the above.
Economics