In economics, an organization that produces a good or service is called a
A) firm.
B) company.
C) business.
D) All of the above are correct.
Answer: D
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One reason that economists usually engage in ________ economic analysis is because the question of fair division of resources is ________ to decide objectively
A) positive; easy B) positive; hard C) normative; easy D) normative; hard
During the 1990s, Japan experienced periods of deflation and very low nominal interest rates, approaching zero percent. Why would lenders of money agree to a nominal interest rate of almost zero?
What will be an ideal response?
According to supply-side economics, changes in marginal tax rates will have which of the following effects?
A) change the incentive to work
B) change the incentive to save
C) change the incentive to invest
D) all of the above
The marginal tax rate is calculated in the following manner:
A. Taxes Paid/Taxable Income. B. Taxable Income/Taxes Paid. C. Additional Taxes Paid/Additional Taxable Income D. Additional Taxable Income/Additional Taxes Paid.