In order to be successful in a competitive market economy, an entrepreneur must
a. provide buyers at least as much satisfaction per dollar spent as the buyer could get elsewhere.
b. supply consumers with goods and services valued less highly than the resources necessary to produce them.
c. take resources from other producers, thus reallocating wealth but not creating new wealth.
d. gain government grants and subsidies.
A
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The demand for money curve is shown in the figure above. A movement from point B to point C could be the result of
A) a rise in the real interest rate. B) an increase in the quantity of money held by banks. C) a fall in the nominal interest rate. D) a rise in the real interest rate matched by an equal fall in the nominal interest rate. E) a decrease in the total benefit from holding money.
The issuer of a bond promises to make ________ payments at specified times and repay the ________ at some point in the future and the bond's price in the market ________ fluctuate over the life of the bond.
A) interest; principal; can B) principal; interest; cannot C) interest; principal; cannot D) principal; interest; can
A takeover of one firm by another
A. ties up the nation’s capital wastefully. B. uses up the economy’s credit supply. C. reduces the value of the acquired firm. D. changes the ownership of the acquired firm.
The proportion of domestic demand for a good that is satisfied by domestic production relative to that supplied by imports is determined by:
a. the interplay of domestic demand and supply curves and the domestic equilibrium price of the good. b. the interplay of demand and supply curves in the international market and the international equilibrium price of a good. c. the interplay of domestic supply and demand curves and the international equilibrium price of a good. d. the different trade restrictions like tariffs and quotas created by the domestic government. e. the interplay of demand and supply curves in the international market and the domestic price of the good