Production refers to
A. any activity that causes a material conversion of manufactured goods.
B. any activity of a firm, whether a corporation, partnership, or sole proprietorship.
C. any activity that results in the conversion of resources into goods or services that can be consumed.
D. physically producing material goods only.
Answer: C
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Which of the following firms is likely to have the highest market power?
A) A perfectly competitive firm B) A monopolistic competitor C) A monopoly D) An oligopoly with homogeneous products
Contractionary fiscal policy that reduces the budget deficit may:
A. reduce business investment by increasing interest rates. B. increase business investment by increasing interest rates. C. reduce business investment by reducing interest rates. D. increase business investment by reducing interest rates.
What is the present value of $100 5 years from now if the interest rate is 12%?
Fill in the blank(s) with the appropriate word(s).
Which of the following is true?
A) If an exchange rate is allowed to vary across a fixed basket of currencies, it is called a hard peg. B) If an exchange rate is not allowed to vary against the target currency, it is called a soft peg. C) If an exchange is only allowed to fluctuate within a set band, it is considered to be a flexible exchange rate system. D) A soft peg is when a currency's exchange rate is only allowed to fluctuate within a set band.