Which of the following statements is true?
A) Only government policymakers can improve decision making by using economic principles.
B) Only government policymakers and business managers can improve decision making by using economic principles.
C) Only business managers and individuals can improve decision making by using economic principles.
D) Government policymakers, business managers, and individuals can all improve decision making by using economic principles.
Answer: D
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The objects that we use as money today are
A) checks and credit cards. B) currency and checks. C) currency and deposits. D) deposits and checks. E) currency, deposits, and gold.
In a bilateral monopoly, equilibrium price will
A) favor the seller. B) favor the buyer. C) approximate the competitive equilibrium price. D) not be determined by a simple rule.
In the Easy Step Interview, you must identify:
a. Type of Industry b. Company name c. Company address d. All of these
Refer to Table 4.3. After calculating the price elasticity of demand for computers, we can say the demand for computers is:
A. upward sloping. B. inelastic. C. unit elastic. D. elastic.