A net increase in inventories is considered as investment for the current year
a. True
b. False
Indicate whether the statement is true or false
True
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The term "market" in economics refers to
A) a group of buyers and sellers of a product and the arrangement by which they come together to trade. B) a legal institution where exchange can take place. C) an organization which sells goods and services. D) a place where money changes hands.
Adopting a uniform menu across all sites provides the McDonald's Corporation __________ by spreading the cost of menu development over a large output
a. economies of scale b. diminishing returns c. constant returns to scale d. rising marginal product e. more flexibility
Given: M = 500, V = 9, P = 10, Q = 450. According to the crude quantity theory of money, if M rises to 700, how much would V, P, and Q be?
What will be an ideal response?
Suppose there are two types of jobs-safe and risky. Safe jobs currently pay $10 per hour. Risky jobs currently pay $20 per hour. The government intervenes in the market, mandating that all firms offer safe jobs and pay a wage of $10 per hour. Which of the following is true?
A. Workers who originally worked risky jobs are helped by the policy. B. Workers who originally worked safe jobs are helped by the policy. C. Firms that originally offered risky jobs are hurt by the policy. D. Firms that originally offered safe jobs are hurt by the policy. E. No one is hurt by the new policy.