A change in the money supply creates demand and cost pressures that lead to future increases in the price level from which main sources? I. Excess demand for output and labor II. Inflationary expectations III. Raw materials prices
A) I
B) II
C) II and III
D) I and II
E) I, II, and III
E
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How can you calculate the cost per mile of owning a car?
A) Divide total costs per year of owning the car by the number of miles driven in a year. B) Divide total costs per year of owning and operating the car by the number of miles driven in a year. C) Divide total costs per year of operating the car by the number of miles driven in a year and add the result to the cost of owning the car. D) You cannot do so in any defensible way because cars are owned per unit of time period, not per unit of distance.
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What will be an ideal response?
Which of the following is a basic question answered by an economic system?
a. for whom goods and services are produced. b. how goods and services are produced. c. what goods and services are produced. d. all of these.
Why is it necessary for business people to monitor political activity concerning international trade?
What will be an ideal response?