If you receive a gift whose market price is $20, but you consider it to be worth only $10, then:
A. there is a $10 or 50 percent value gain.
B. there may or may not be a value loss.
C. there is a $10 or 50 percent value loss.
D. you can be relatively certain the giver was a sibling or other close relative.
Answer: C
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Supply-side economic policies seek to
A) raise interest rates through contractionary monetary policy. B) increase federal government expenditures. C) increase consumption expenditures by increasing taxes. D) increase saving and investment using tax incentives.
Everything else held constant, an increase in the currency ratio will mean ________ in the M2 money multiplier and ________ in the M2 money supply
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Briefly discuss the determinants of supply other than price
What will be an ideal response?
The goal of the firm, according to economists, is to
A. make as much economic profit as is possible. B. grow as large as possible. C. sell as many units of the good it produces as possible. D. stay in business for as long as possible.