An industry can be defined as
a. the group of all firms that sell a product.
b. any company that produces and sells something.
c. the set of buyers of a particular good or service.
d. the top companies that sell something.
a
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Money must be ________ which includes the fact that is should ________
A) generally accepted as a means of payment; be recognizable and divisible into small parts B) backed by gold; not decrease in value over time C) whatever is used in a barter system; transferable across countries' borders D) accepted as a means of payment across countries' borders; not be fiat money E) in physical form; not be transferable using electronic means
The transactions demand for holding money is when people hold money:
a. instead of near money. b. to transact purchases they expect to make. c. as insurance against unexpected expenses. d. to speculate in the stock market. e. to take advantage of changes in interest rates.
European corporations have been described with the term:
a. laissez faire b. indirect capitalism c. shareholder capitalism d. managerial capitalism e. all of the above
If a monopolist's price were $8, it is likely that in equilibrium
A. MC = MR, and both are less than $8. B. MC = MR, and both are more than $8. C. MC = MR, and both are equal to $8. D. None of the choices are correct.