The alternative to the use of money by the members of a society is
A) barter.
B) borrowing.
C) division of labor.
D) from each according to ability, to each according to need.
E) payment by check.
A
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If a subsidy is provided to produce good X, this will shift the
A. demand curve for X to the right. B. supply curve for X to the left. C. demand curve for X to the left. D. supply curve for X to the right.
Discounting involves dividing next-period income by ________
A) one plus the real rate of interest B) the nominal rate of interest C) current income D) the real rate of interest
What was the least important reason for the failure of the Virginia Company?
a. Difficulty in finding good crops to grow b. The Company's employees had unforeseen labor alternatives. c. There was a relatively small incentive for employees to work hard. d. The death rate was much higher than they expected.
The nation's largest cable TV company tested the effect of a price increase for premium sports channels. It increased prices 10% and found that the number of customers decreased by more than 40%. This means: a. the demand curve for the premium sports channels shifted to the right. b. the supply curve for premium sports channels shifted to the left
c. the demand for premium sports channels is elastic in this price range. d. the demand for premium sports channels is inelastic in this price range.