Which of the following is not an example of a fungible good?
A. Cars
B. Wheat
C. Gold
D. All of these are fungible commodities.
A. Cars
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A key difference between a monopoly and a perfectly competitive firm is that the monopolist
A) does not face fixed costs in the short run. B) has a marginal revenue curve that lies below its demand curve. C) has no marginal cost curve. D) faces a perfectly elastic demand for its product.
Does globalization promote economic growth, and how does globalization affect the welfare of a given country's citizens?
What will be an ideal response?
The economy will reach equilibrium in a simple economy only if saving is
a. greater than investment. b. less than investment. c. equal to investment. d. equal to disposable income.
Stagflation is defined as an unhealthy combination of a stagnating economy and high inflation
a. True b. False Indicate whether the statement is true or false