The demand deposit multiplier is always less than 10
a. True
b. False
B
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If Ford Motor Company and General Motors Corporation were to merge, this would represent
A. a horizontal merger.
B. a cartel.
C. a vertical merger.
D. an up-and-down merger.
The production possibilities frontier can be used to show all of the following except one. Which is the exception?
a. scarcity b. opportunity cost c. the law of increasing opportunity cost d. efficiency e. the best combination of goods and services for an economy
Accountants often ignore implicit costs
a. True b. False Indicate whether the statement is true or false
The concept of absolute advantage relies on
A) the idea of comparative advantage. B) the ability to produce more units of an item with a given amount of resources. C) the idea of opportunity cost. D) the concept of economic efficiency as measured on the production possibility curve.