Huge Government Deficits Are Examples of A(n) _____ Impact on Pricing

question 52

Multiple Choice

Huge government deficits are examples of a(n) _____ impact on pricing decisions.

• A)direct
• B)indirect
• C)artificial
• D)planned
• E)uncontrollable

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Definitions:

Utility Function

A mathematical representation that translates the satisfaction or happiness a consumer gains from consuming quantities of goods and services into a numerical value.

Consumer's Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

Earplugs

Devices inserted in the ear canal to protect the ears from loud noises, water, foreign bodies, or excessive wind.

Utility Function

A mathematical representation that ranks an individual's preferences over a set of goods or outcomes.