Money is
What will be an ideal response?
whatever is generally used to pay for goods, services and resources.
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If additional units of a good could be produced at a constant opportunity cost, the production
possibilities frontier would be bowed outward (concave). Indicate whether the statement is true or false
A decrease in real GDP causes
A) movement downward along a money demand schedule. B) movement upward along a money demand schedule. C) a rightward shift of the money demand schedule. D) a leftward shift of the money demand schedule.
After the American Revolution concluded, what did the English do?
(a) They withdrew all investments in colonial America. (b) They continued investing in colonial America. (c) They discouraged individuals in other countries from investing in colonial America. (d) They did none of the above.
The concept that explains the firm's ability to produce output with differing bundles of resources is called
a. Resource heterogeneity b. Resource immobility c. Barriers to entry d. Imitability