Which of the following is not a typical justification for running a budget deficit?
a. financing a war
b. dealing with a recession
c. fighting inflation
d. dealing with unemployment
c
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The factor of production called "capital" refers to:
A. manufactured goods that are used to produce new goods. B. any piece of raw material that is used to produce goods and services. C. any input that's not a human being or dirt. D. the amount of money a firm has access in order to run its business.
The monopolist, unlike the perfectly competitive firm, can continue to earn an economic profit in the long run because of:
a. collusive agreements with competitors. b. price leadership. c. cartels. d. a dominant firm. e. extremely high barriers to entry.
Which of the following is not an example of a natural resource?
A. River B. Forest C. Coal deposit D. Piece of machinery
Loans that are secured against an asset:
A. generally have lower interest rates. B. generally have higher interest rates. C. are much longer in length than unsecured loans. D. are much shorter in length than unsecured loans.