Which statement is true?
A. M1 is larger than M3.
B. M2 is about five times the size of M1.
C. M3 is three times the size of M2.
D. None of the statements are true.
B. M2 is about five times the size of M1.
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What benefits are to be gained from countries producing according to the law of comparative advantage? What if a country is absolutely more productive in all goods?
DeShawn has spent $600 purchasing and repairing an old fishing boat, which he expects to sell for $900 once the repairs are complete. DeShawn discovers that, in addition to the $600 he has already spent, he needs to make an additional repair, which will cost another $400, in order to make the boat worth $900 to potential buyers. He can sell the boat as it is now for $400 . What should he do?
a. He should sell the boat as it is now for $400. b. He should keep the boat since it would not be rational to spend $1,000 on repairs and then sell the boat for $900. c. He should complete the repairs and sell the boat for $900. d. It does not matter which action he takes; the outcome is the same either way.
According to the cost-push theory, what is responsible for inflation?
(A) The economy is operating as though there was a war. (B) Too much money is in circulation. (C) Demand for goods and services exceeds existing supply. (D) Producers raise prices to meet increased costs.
For legal purposes, a corporation is treated as
a. an individual. b. a nonprofit organization. c. a partnership. d. a limited partner in a partnership.