Which of the following is NOT a stage of development that modern rich nations have gone through?
A) service stage
B) agricultural stage
C) manufacturing stage
D) inflation stage
D
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A firm cannot control all of the factors that allow it to make economic profits. Which of the following is an example of an uncontrollable factor?
A) hiring competent managers B) input prices C) product differentiation D) producing at a lower average total cost than competing firms
The most liquid form of money is M3
Indicate whether the statement is true or false
The usual results of an adverse supply shock are
a. a rise in prices and a fall in output. b. a fall in prices and a rise in output. c. increased growth and lower inflation. d. a rise in prices and a rise in output.
Which of the following at one time were monopolies because they were the first to enter their field?
A. Xerox B. IBM C. Microsoft D. All of the choices are true.