What is defined as an entity which makes product, good or services available to buyer or consumer in exchange of monetary consideration?
A. Seller
B. Manufacturer
C. Producer
D. Buyer or consumer
Answer: C. Producer
You might also like to view...
There are several reasons why the aggregate demand curve is downward sloping. Which of the following CORRECTLY describes one of these explanations?
A) A rise in the price level raises the purchasing power wealth and increases desired consumption. B) A rise in the price level raises interest rates and increases investment spending. C) A fall in the price level, holding foreign prices and the exchange rate constant, increases net exports. D) A rise in the price level lowers the interest rate and increases investment spending.
Other things equal, which of the following will lead to an increase in output and employment?
A) The federal government decides to eliminate the Department of Education. B) The federal government implements a national value-added tax (VAT). C) The federal government passes a tax incentive for firms that employ returning war veterans. D) The federal government reduces the duration and amount of unemployment benefits.
Some economists argue that well-functioning capital markets that allow funds to move from those who have but do not need funds to those who need but do not have funds, are essential for rapid economic growth. Well-functioning capital markets are an example of:
A. entrepreneurship. B. growth-compatible institutions. C. physical capital. D. human capital.
Discuss the benefits and opportunity costs of government farm subsidies.
What will be an ideal response?