A Japanese television sells for ¥100,000 and a dollar is equal to ¥100. What is the dollar price of the television?
A) $1000
B) $99,900
C) $10,000,000
D) $100,100
A
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When business firms get to be too big, they are suffering from ____________________.
Fill in the blank(s) with the appropriate word(s).
Use the following graph for a monopolistically competitive firm to answer the next question.
A firm with which demand curve has more control over prices?
A. B, because its more elastic B. A, because it's more inelastic C. B, because it's more inelastic D. A, because it's more elastic
Aside from being a means of payment, the other functions of money are
A) medium of exchange and the ability to buy goods and services. B) medium of exchange, unit of account, and means of lending. C) pricing, contracts, and store of value. D) medium of exchange, unit of account, and store of value.
The statistic called Gross Output (GO) is bigger than GDP, because GO sums up the values in all stages of a productive economy, whereas GDP accounts only for the final stage.
Indicate whether the statement is true or false