Discuss the various components of wealth
What will be an ideal response?
Housing, financial, and human wealth.
Economics
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In the long run, inflation is caused by
A) aggressive labor unions. B) greedy monopolists. C) growth in the money supply. D) global warming.
Economics
Why should a firm not produce more than the rate of output at which marginal revenue equals marginal cost?
What will be an ideal response?
Economics
An example of a private good is:
A. national defense. B. a bottle of perfume. C. city streets and highways. D. clean air.
Economics
The velocity of money is equal to
A. P / M × Y. B. P × Y / M. C. Y × P × M. D. P × M / Y.
Economics