If Taco Bell decides to produce more tacos and fewer burritos, Taco Bell is answering the ________ part of one of the two big economic questions
A) "what"
B) "why"
C) "when"
D) "scarcity"
A
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If you knew that an investment was going to pay you $46,370 in 5 years, and you knew that the annual interest rate over that time would be 3 percent, you could calculate the present value to be:
A. $39,999. B. $37,000. C. $41,998. D. $41,600.
Setting price equal to marginal cost in a natural monopoly will lead to
A. excess profits for the firm. B. losses for the firm. C. zero profits for the firm. D. One cannot tell without further information.
The inflow of foreign investment into the United States
A. Signals a lack of confidence in the U.S. economy. B. Diminishes production possibilities for the United States. C. Stimulates more economic growth for the United States. D. Has no effect on the U.S. economy.
Recall the Application about the attempt to form a salt cartel in the 19th century to answer the following question(s).Recall the Application. One of the primary goals of the salt producers who tried to form a cartel was to:
A. establish a uniform price for salt. B. boost the demand for salt. C. establish an export market for salt. D. increase competition in the market for salt.