National income is derived from gross domestic product by subtracting:
a. transfer payments.
b. profits.
c. an allowance for depreciation of capital equipment.
d. net exports.
c
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An essential assumption of the Cournot model is that each firm aims to maximize profits, based on the expectation that its own output decision will not have an effect on the decisions of its rivals. Critically evaluate this assumption
What will be an ideal response?
The key to diversification is that the risks should be:
A. positively correlated. B. uncorrelated. C. negatively correlated. D. easy to reduce.
What is true of depletable resources is that
A. increasing scarcity leads to their total disappearance. B. they are depleted by gradually using up the supply of homogeneous resources, every unit of which is equally available. C. generally the most accessible and cheapest sources are used up so that new supplies become more costly. D. their prices must rise at the average rate of inflation.
If a smaller quantity is supplied at each price, then
a. supply has decreased. b. supply has increased. c. demand has decreased. d. demand has increased. e. none of these is true.