In a competitive market economy, firms and resource suppliers will seek to further their own self-interest, but at the same time, as if guided by an "invisible hand," they will promote the public interest.

Answer the following statement true (T) or false (F)


True

Economics

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Lizzie's preferences are shown in the figure above. Lizzie definitely prefers consuming ________ to consuming ________

A) 1 comic book and 12 cookies; 4 comic books and 4 cookies B) 2 comic books and 12 cookies; 4 comic books and 8 cookies C) 4 comic books and 12 cookies; 2 comic books and 12 cookies D) 6 comic books and 12 cookies; 8 comic books and 16 cookies

Economics

Which of the following represented the largest liability on the balance sheet of U.S. commercial banks in 2012?

A) checkable deposits B) loans C) nontransaction deposits D) borrowings

Economics

A likely explanation for the 2008-2009 recession is

A) an increase in energy prices. B) financial market problems. C) a drastic reduction in government expenses. D) an increase in taxes.

Economics

The break-even quantity is

a. 10000 b. 5,555 c. 12,500 d. 5,000

Economics