Anything that is commonly acceptable as a payment for goods and services is called ________
Fill in the blank(s) with correct word
money
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One barrier to entry into a monopoly market is:
A. very large fixed costs relative to variable costs. B. the existence of large economies of scale. C. the high cost of required infrastructure for an industry. D. All of these statements are true.
What do supply and demand curves have in common?
a. They both usually slope upward. b. They both show a relationship between quantity and price. c. They both usually slope downward. d. They can both shift in response to changes in income or wealth. e. Neither of them is influenced by the size of the population.
If each firm depicted in Table 9.5 is currently generating 1,000 gallons of wastewater per day, Firm A would need to be paid at least ________ from Firm B to reduce wastewater production to 0 gallons per day.
A. $20 B. $15 C. $12 D. $3
Automatic stabilizers include those elements of government spending that automatically grow during a recession.
Answer the following statement true (T) or false (F)