If you want to earn a high income you should figure out what others value because
What will be an ideal response?
others will be willing to pay attractive prices for things they value.
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The wheat growing industry consists of very many farmers producing identical products. The market structure that best fits the wheat growing industry is probably
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
The most effective monetary policy tool of the Federal Reserve is
A. the reserve requirements. B. discount operations. C. margin requirements. D. open market operations.
Economists have been interested in the following interaction: A person is allowed to split a sum of money between himself and another person. The other person can then accept the split or reject it, in which case neither person gets anything. Economists call this interaction the:
A. prisoner's dilemma. B. sucker's payoff. C. ultimatum game. D. game of chicken.
What is the velocity of money?
A) The rate at which GDP increases in a year B) The speed of capital accumulation C) The rate at which money circulates through an economy D) The rate at which the Federal Reserve increases or decreases the money supply E) The rate at which the aggregate price level increases