The Absolute Price of a Good in Dollar Terms Is

question 102

Multiple Choice

The absolute price of a good in dollar terms is the

• A)market price
• B)equilibrium price
• C)nominal price
• D)marginal price

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Definitions:

Writ Of Certiorari

An order issued by a higher court to review the decision and proceedings in a lower court and determine if there were any irregularities.

Lower Court

Lower courts refer to the initial levels of the court system where legal cases are first heard, below appellate or supreme courts.

Supreme Court

The highest judicial body in the United States, which has the ultimate authority in interpreting the Constitution and federal laws.

Senatorial Courtesy

A custom in the U.S. Senate where presidential nominations for positions within a state are not confirmed if opposed by a senator from the President's party from that state.