A group of firms that produce the same or similar products is:
A. a multiplant firm.
B. a partnership.
C. a plant.
D. an industry.
Answer: D
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An individual receives $100 if the outcome of a coin toss is heads. If the outcome of the coin toss is tails, he loses $50. If the individual weights future loses by a special factor of 2, what is the psychological value of this coin toss?
What will be an ideal response?
Studies and recent experience suggest that there is considerable potential for substitution between doctors and nurses in the production of health care services
Indicate whether the statement is true or false
Which of the following is correct?
a. There is no debate about the effects of higher population growth on economic growth. b. Natural resources clearly place limits on growth; there is simply no way to reduce either the amount or type of natural resources needed to produce goods. c. How much an increase in capital increases a country's output is independent of that country's current level of capital. d. Economists argue that outward rather than inward policies are likely to promote economic growth.
If a bank has no excess reserves, the reserve requirement is 10%, and it receives a new $2 million deposit, the bank can lend out
A. $2 million. B. $1 million. C. $200,000. D. $1,800,000.