What is produced and exchanged in the real sector?
A. Money
B. Financial assets
C. All assets with a money price
D. Goods and services
Answer: D
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The percentage of money income earned by the lowest fifth of families in the U.S. was ________ in 1960 and ________ in 2010
A) 41.3%; 47.8% B) 15.9%; 20.0% C) 12.2%; 9.5% D) 4.8%; 3.8%
"Perfectly competitive firms have total control over the price they set for their product." Explain why the previous statement is correct or incorrect
What will be an ideal response?
Another term for "don't put all your eggs in one basket" is
A) moral hazard. B) indirect finance. C) asymmetric information. D) portfolio diversification.
A decrease in the supply of chocolate chips would usually result in a
a. higher equilibrium price and a lower equilibrium quantity b. lower equilibrium price and a lower equilibrium quantity c. lower equilibrium price and a higher equilibrium quantity d. higher equilibrium price and a higher equilibrium quantity e. decrease in the demand for chocolate chips