A firm in a market economy must do all of the following to succeed except
A) produce the goods and services that consumers want at a lower cost than consumers themselves can produce.
B) organize the factors of production into a functioning, efficient unit.
C) have access to sufficient funds.
D) be organized as a corporation.
Answer: D
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Assume an exchange rate of $1 = 0.60 British pound. A U.S. product sells in Britain for 18 pounds. By what percentage will dollar revenues change if the dollar price of a pound falls to 0.50 pound?
A. +20% B. +16% C. -16% D. -20%
What is the difference between decreasing marginal returns and negative marginal returns?
What will be an ideal response?
Which of the following would most likely induce the Federal Reserve to conduct expansionary monetary policy? A significant decrease in
A) business taxes. B) oil prices. C) investment spending. D) income tax rates.
Price level changes have their greatest effect on consumers'
a. income. b. wealth. c. debt. d. expectations.