Jacob makes excellent tamales and Amanda is very good at mowing lawns. Amanda agrees to mow Jacob's lawn, if he makes her a dozen tamales. This is an example of
A. fiat money.
B. legal tender.
C. barter.
D. commodity money.
Answer: C
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When will a profit-maximizing firm shut down?
a. when ATC x q is more than VC b. when ATC x q is less than VC c. when P x q is more than VC d. when P x q is less than VC
The main purpose of the antitrust laws is:
A. to encourage firms to produce where P > MC. B. the elimination of both negative and positive externalities. C. to prevent the monopolization of industries. D. to regulate natural monopolies.
For one person to be willing to lend money to another person, the interest rate must be high enough to compensate the lender for
A. the risk of deflation and bearing the risk of default. B. the opportunity cost of risk and the principal. C. the certainty of default and the certainty of inflation. D. the time value of money and bearing the risk of default.
From December 2007 to December? 2010, the BLS initially reported that employment
What will be an ideal response?