An industry can be defined as
A. a group of firms that compete to sell a specific product.
B. any company that produces and sells products.
C. the set of buyers of a particular good or service.
D. the top companies that sell a product.
Answer: A
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Keynes's liquidity preference theory indicates that the demand for money
A) is purely a function of income, and interest rates have no effect on the demand for money. B) is purely a function of interest rates, and income has no effect on the demand for money. C) is a function of both income and interest rates. D) is a function of both government spending and income.
Dividing nominal gross domestic product (GDP) by the money supply (M) is a way to obtain the:
A. Velocity of money B. Monetary multiplier C. Equation of exchange D. Monetary rule
If consumption of a good creates positive externalities, then
a. the market will under produce it b. the market will over produce it c. the market must be perfectly competitive d. the market must be constrained by barriers to entry e. the market will produce the most efficient quantity
The governance of Texas community colleges is performed mainly by