The process of using resources to produce ________ is known as investment.
A. profit
B. money
C. new capital
D. inputs
Answer: C
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What role does the invisible hand play when two firms are producing in the same competitive industry?
What will be an ideal response?
Economists disagree on most economic issues facing an economy.
Answer the following statement true (T) or false (F)
The Bretton Woods system was the major system of exchange rate determination
A. between World War I and World War II. B. after 1971. C. before 1914. D. from the end of World War II until 1971.
Why is there NO persistent unemployment in the classical model?
A) Unionization creates job security for workers. B) The wage level adjusts to eliminate unemployment. C) The interest rate adjusts to eliminate unemployment. D) The rate of economic growth is always high enough to allow those who want to work at current wages to find jobs.