Islamic economics promotes the organization of production through large partnerships
a. True
b. False
B
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If the shopkeeper goes first and quotes a high price, what is the best response of the customer?
a. Accept the high price b. Yell at the store owner c. Walk away from the deal d. Swear off shopping forever
Don can produce 10 pens or 20 pencils in one hour while Bob can produce 5 pencils or 15 pens in one hour. Which of the following statements is correct?
a. Don has an absolute advantage over Bob in the production of pencils and Bob in the production of pens b. Bob has an absolute advantage over Don in the production of pencils c. Bob has a comparative advantage over Don in the production of pens d. Don has a comparative advantage over Bob in the production of pens e. Don does not have a comparative advantage in the production of either good
Creating economic growth:
A. is well understood by macroeconomists. B. has no central tenets upon which the theory is based. C. involves savings, capital, labor, and technology. D. is an easy thing for policy-makers to achieve with correct taxation policy.
Which of the following interest rates will be least affected by a shift in monetary policy that alters the money supply?
a. a three-month certificate of deposit b. interest on checking accounts c. a one-year bank loan d. a thirty-year home mortgage