The time value of money is also referred to as the ________
A) loan
B) interest
C) collateral
D) principal
B
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An increase in market demand will cause an increase in industry output in the long run because
A. new firms enter the industry. B. new firms enter the industry and all firms increase their output. C. all firms decrease their output but more new firms enter. D. no firms enter but the existing firms increase their output.
Without trade, a country's consumption possibilities are
A. Less than its trade balance. B. Greater than with trade. C. More than its terms of trade. D. Limited to its domestic production possibilities.
Mark's Baseballs produces baseballs. Mark's Baseballs has total fixed costs of $500. Mark's average variable cost is $20, and his average total cost is $25. Mark is currently producing:
A. 5 baseballs. B. 25 baseballs. C. 100 baseballs. D. a number of baseballs that cannot be determined from the information provided.
Government programs, such as Social Security, food stamps, AFDC, SSI, Medicare, and Medicaid, that guarantee particular levels of transfer payments to all who fit the programs' criteria are called:
A. Public assistance programs B. Social insurance programs C. Benefit-reduction programs D. Entitlement programs