At the equilibrium point of a market,
a. supply equals demand.
b. neither demanders nor suppliers are satisfied.
c. the quantities supplied and demanded are equal.
d. suppliers will refuse any price increases offered by demanders.
c. the quantities supplied and demanded are equal.
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A monetary system is preferable over the barter system because it
A) is easier to track by the government. B) limits cash leakages. C) reduces transaction costs. D) is determined by the Congress.
Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year. For Christine to earn a normal profit as a consultant, her accounting profit would have to be ________.
A. $51,000 B. $0 C. $9,000 D. $40,000
In order to calculate GDP from the value of net domestic product at factor cost, we have to add
What will be an ideal response?
In several years, bondholders may lose confidence in the United States willingness to pay back funds.
Answer the following statement true (T) or false (F)