The ______ allows a person to focus on the variable he or she wants to study.
a. the ceteris paribus price
b. the equilibrium assumption
c. the equilibrium price
d. the ceteris paribus assumption
d. the ceteris paribus assumption
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Because audited financial statements are __________ to prepare, restrictive covenants rarely appear in loan contracts to companies with __________ than $1 million in assets
A) inexpensive; more B) inexpensive; less C) expensive; more D) expensive; less
Fighting alongside the British in the Revolution, the ___________ lost much of their land and position in America after the War
a. Iroquois b. French c. Mexicans d. Sioux
A private closed economy includes:
A. households, businesses, and government, but not international trade. B. households, businesses, and international trade, but not government. C. households and businesses, but not government or international trade. D. households only.
The United States can produce 1,000 shoes if it specializes in shoe production. Alternatively, it can produce 500 shirts. Taiwan can produce 500 shoes or 200 shirts. Explain which country will specialize in shoe production and which in shirt production. What are the possible terms of trade?
What will be an ideal response?