Which of the following is a TRUE statement?
A. To get more money, one must earn interest on money.
B. To demand money is to demand a higher income.
C. To use money, one must hold money.
D. To demand money is to demand wealth.
Answer: C
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In the short run, a firm that finds itself earning a loss should compare the market price to which cost in order to determine how to minimize its losses?
A. Average total costs B. Average variable costs C. Marginal costs D. Fixed costs
If a steel company and an ice cream company decide to merge, this merger would be classified as:
a. a horizontal merger. b. a vertical merger. c. a conglomerate merger. d. either a horizontal or vertical merger, depending on the nationality of the companies. e. either a horizontal or vertical merger, depending on the market shares of the two companies.
If the demand for labor in a particular industry increases, the equilibrium wage in that industry will also increase
a. True b. False Indicate whether the statement is true or false
"NAFTA" stands for:
A. North African Free Trade Area. B. North American Free Trade Agreement. C. North Asian Free Trade Agreement. D. New Zealand-Australia Free Trade Agreement.