A supply curve is defined as the relationship between:
A. the price of a good and the quantity that consumers are willing to buy.
B. the price of a good and the quantity that producers are willing to sell.
C. the income of consumers and the quantity of a product that consumers are willing to buy.
D. the income of consumers and the quantity of a product that producers are willing to sell.
Answer: B
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A country that joins an exchange rate area
A) gives up its ability to use the exchange rate for the purpose of stabilizing output and employment. B) does not give up its ability to use the exchange rate and monetary policy for the purpose of stabilizing output and employment. C) gives up its ability to use the exchange rate and monetary policy for the purpose of stabilizing output and employment. D) gives up its ability to use only monetary policy for the purpose of stabilizing output and employment. E) does not gives up its ability to use only monetary policy for the purpose of stabilizing output and employment.
According to the innovation theory of profit, above-normal profits are necessary to compensate the owners of the firm for the risk they assume when making their investments
a. true b. false
Katya owns a math-tutoring business. Her accountant most likely includes which of the following costs on her financial statements? (i) workbooks containing practice problems (ii) rent for the storefront (iii) wages Katya could earn as a bookkeeper (iv) interest that Katya's money was earning before she spent her savings to set up the tutoring business
a. (i) only b. (i) and (ii) only c. (iii) and (iv) only d. (i), (ii), (iii), and (iv)
Which statement is false?
A. Suburbanization was the migration of tens of millions of middle-class Americans—nearly all of them white—from the cities to the suburbs. B. The people who moved to the suburbs were replaced in the cities by millions of poor people, the large majority of whom were black and Hispanic. C. The inner cities today are socially isolated from the rest of the country. D. None of these statements are false.