Basic economics indicates that the cornerstones of economic progress are
What will be an ideal response?
private ownership, freedom of exchange, competitive markets, and monetary stability.
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The top of the supply chain contains ________ and is referred to as the ________ end of the chain.
A) finished goods; downstream B) finished goods; upstream C) raw materials; upstream D) raw materials; downstream
The IMF mostly receives its funds from:
a. the subscription fees paid by the member nations. b. selling of bonds. c. the loans given by the World Bank. d. the central banks of the major industrialized nations. e. the gold reserves available with the Fed.
Contractual provisions based on indexing are also called
a. withdrawal clauses. b. swap clauses. c. escalator clauses. d. averaging clauses.
Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. They then notice that they are selling approximately 15% fewer sodas. The price elasticity of demand for sodas from the campus vending machines, therefore, is:
A. elastic B. inelastic C. unit elastic D. infinite