Apple's decision in 2002 to focus on developing a smartphone rather than a tablet computer exemplifies the
A) refusal of firms to invest in more than one project where unlimited resources are involved.
B) trade-off that firms face due to limited resources.
C) refusal of firms to invest in more than one project where limited resources are involved.
D) trade-off that firms face due to unlimited resources.
B
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Alberto purchases ten cups of coffee a week. The amount of money that he holds to purchase ten cups of coffee is the
A) asset demand for money. B) precautionary demand for money. C) money balance demand for money. D) transactions demand for money.
Suppose the measured unemployment rate is 6.1% and the true natural rate of unemployment is 5.1%. If the chair of the Fed believes the natural rate of unemployment to be 6.7%, then the chair will
A) stimulate the economy when it should be slowed. B) slow the economy when it should be stimulated. C) stimulate the economy, exactly as called for. D) slow the economy, exactly as called for.
The imposition of all taxes, except a Pigouvian tax, leads to ________
A) an increase in consumer surplus B) an increase in producer surplus C) a fall in the price of the good D) a loss in total welfare
If a bank lends funds in the form of cash, then:
a. M2 stays the same, but M1 rises. b. M1 and M2 fall. c. M1 and M2 do not change. d. M2 rises, and M1 falls. e. M1 and M2 rise.