Force that encourages people to start businesses and attempt to improve their material well-being
a. profit motive
b. capitalism
c. consumer sovereignty
d. voluntary exchange
Answer: a. profit motive
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Interlace, Inc produces and a unique soda. The company cannot price discriminate. The figure above shows Interlace's demand curve, marginal revenue curve, and marginal cost curve. When Interlace maximizes its profit, the deadweight loss is
A) zero. B) $15,000. C) $21,000. D) $3,000.
Which of the following statements about the FDIC is untrue?
a. The FDIC conducts bank audits and examinations. b. The FDIC helps prevent bank failures. c. The FDIC is owned by member banks. d. The FDIC provides demand deposit insurance for participating banks. e. The FDIC was created in 1933.
Over time, permanent rises in government purchases will lead to ______.
a. reduction of the crowding-out effect b. elimination of the crowding-out effect c. increases in private expenditures d. decreases in private expenditures
A cartel member has _____ incentive to increase quantity than a standard monopolist.
Fill in the blank(s) with the appropriate word(s).