The difference between Capitalism and Socialism is that
a. Capitalism is concerned more about how to slice up the "pie"
b. Socialism is concerned with making the "pie" as large as possible
c. Capitalism is concerned with making the "pie" as large as possible
d. Both a and B
c
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Which of the following is most necessary for a monopolist to survive in the long run?
A) a legal protection from entry B) a perfect product C) a brilliant Chief Operating Officer D) an excellent marketing campaign
Demand-pull inflation is caused by:
a. an increase in aggregate demand. b. a decrease in aggregate demand. c. an increase in aggregate supply. d. a decrease in aggregate supply.
A spot contract is a(n):
a. promise to purchase a foreign currency in 30 days. b. promise to purchase a foreign currency in 90 days. c. contract for the immediate exchange of currencies. d. agreement to sell currencies at a fixed price indefinitely.
Which of the following best represents the law of demand?
A. As the price of a good decreases, the quantity demanded of that good decreases. B. As the price of a good decreases, the demand curve for that good shifts to the right. C. As the price of a good decreases, the quantity demanded of that good increases. D. As the demand for a good increases, the price of that good increases.