A business firm should refuse to sell any item for which it cannot obtain a price at least as large as what
A) it cost the firm to produce the particular item.
B) it costs the firm on average to produce the item.
C) it would cost the firm to produce another item identical to the item being sold.
D) the item will be worth to the firm if not sold.
D
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The money supply that consists of currency, transaction deposits, and traveler's checks is
A) the fiduciary monetary system. B) M1. C) M2. D) the liquidity approach.
All of the following are true regarding false advertising except which one?
A) It can misrepresents the characteristics of a good or service. B) It can misrepresent the nature of a good or service. C) It can misrepresents the price of a good or service. D) It can misrepresents the quality of a good or service.
The greatest constraint faced by banks considering the alternative of lending to Bangladeshi villagers is:
A. not having qualified loan officers to make the loans. B. having limited funds available for loans. C. not being able to determine appropriate currency exchange rates. D. counterfeit Carfax reports that make it difficult to properly assess collateral.
The price elasticity of supply increases as firms have more time to adjust
Indicate whether the statement is true or false