Under socialism, factories, farms, mines, and natural resources are owned by:
a. laborers. b. government.
c. private stockholders. d. no one.
b
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The income elasticity of demand for foreign travel
A) is likely to be smaller than the income elasticity of demand for food. B) is likely to be larger than the income elasticity of demand for food. C) cannot be compared to the income elasticity of demand for food. D) is likely to be inelastic. E) is likely to be negative.
In the above figure, which curve shows a negative relationship between x and y?
A) only curve A B) only curve B C) only curve C D) None of the curves show a negative relationshi
Central Grocery in New Orleans is famous for its muffaletta, a large round sandwich filled with deli meats and topped with a tangy olive salad. Suppose the following table represents cost and revenue data for Central Grocery
Fill in the columns for TR, MR, MC, ATC, and profit. If Central Grocery wants to maximize profits, what price should it charge for a muffaletta, what quantity should it sell, and what will be the amount of its total profit? Muffalettas Sold per Day Price (P) Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC) Profit 0 $15 $12 1 14 18 2 13 20 3 12 21 4 11 23 5 10 26 6 9 30 7 8 35 8 7 42 9 6 52 10 5 78
Which of the following is included in the narrow definition of the money supply?
a. Cash in bank vaults b. Savings deposits c. Money market mutual fund accounts d. Negotiable certificates of deposit e. Checkable deposits