Refer to the above figure. Which panel demonstrates the law of supply?
A. Panel A
B. Panel B
C. Panel C
D. Panel D
Answer: B
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Judy has just bought a car that is made in Germany. As far as the U.S. balance of payments is concerned this purchase is a(n)
A) accounting identity. B) special draw. C) surplus item. D) deficit item.
Refer to the above figures. A quota is placed on a foreign good. Which figure represents the situation in the domestic market for a competing domestic good?
A) Panel A B) Panel B C) Panel C D) Panel D
Economic information
a. is usually scarce and costly to acquire b. is usually available free to any decision maker c. is usually not required for rational decision making d. must be complete before any decision is made e. is usually useful only to governments
According to "Where Do Start-Ups Get Their Money?" venture capital is not an option for most entrepreneurs. Where does the majority of funding come from for start-ups?
A. Second mortgages on personal homes. B. Bank business loans. C. Personal savings. D. Business and personal credit cards.