Financial investment refers to:
A. The same idea as economic investment
B. Earning profits from producing goods and services
C. Purchasing or building an asset for monetary gain
D. Making new additions to the capital stock
C. Purchasing or building an asset for monetary gain
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The term that is used to refer to a situation in which one party to a transaction has more or better information than the other party is
A) adverse selection. B) asymmetric information. C) moral hazard. D) deceptive trade practices.
The ________ measures the change in the demand of a good due to a percentage change in the consumer's income
A) substitution effect of a price change B) income effect of a price change C) cross-price elasticity of demand D) income elasticity of demand
Refer to the scenario above. The demand for Sporty's soccer balls is 2,500 units if ________
A) the price charged by Sporty is higher than the price charged by Go! B) the price charged by Go! is higher than the price charged by Sporty C) the price charged by Sporty is equal to the price charged by Go! D) the price charged by Go! is higher than the unit cost of producing a ball
President Obama has proposed a goal that everyone complete at least one year of formal education or training beyond high school. This policy would
A) increase human capital and increase economic growth. B) increase physical capital and increase economic growth. C) increase financial capital and increase economic growth. D) eliminate opportunity costs and increase economic growth.