The equity market is said to be an efficient market because it is difficult for an investor to continually earn above-normal profits
a. True
b. False
Indicate whether the statement is true or false
True
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A cost associated with an economic depression is
a. the loss of goods and services that are not produced. b. the loss of individual income to unemployed workers. c. a possible deterioration of working skills of unemployed workers. d. All of these.
Marginal profit is the profit
a. earned by a firm that is about to go out of business. b. calculated directly from the total cost curve. c. that is added by a one-unit increase in total output. d. earned for each dollar of cost increase.
A necessary condition for successful economic development is democracy.
a. true b. false
What function is money serving when you use it when you go shopping?
A medium of exchange A store of value A medium of deferred payment A unit of account