Voluntary exchanges between ________ generates surplus.
A. individuals
B. countries
C. firms
D. All of these are true.
Answer: D
You might also like to view...
A natural monopoly has
A. many producers of the same product. B. easy access to the market. C. a single firm providing the industry's output. D. one buyer of output.
People tend to spend more money the ______ the amount of credit available and the ____ the stock of liquid assets in the hands of consumers.
A. higher; higher B. lower; lower C. higher; lower D. lower; higher
Suppose you place $10,000 in a retirement fund that earns a nominal interest rate of 8 percent. If you expect inflation to be 5 percent or lower, then you are expecting to earn a real interest rate of at least:
A. 1.6 percent. B. 3 percent. C. 4 percent. D. 5 percent.
Which of the following is an accurate argument in support of market power?
A. It contributes to efficient production when there are diseconomies of scale. B. It restricts output and raises prices, contributing to more efficient use of resources. C. It provides greater ability to fund research and development. D. It provides the economic profit necessary for survival and efficient production in a market.