When economists refer to intangible items, they are referring to such things as
a. illegal goods, and the value of such items is included in GDP.
b. illegal goods, and the value of such items is excluded from GDP.
c. hair styling and dental care, and the value of such items is included in GDP.
d. hair styling and dental care, and the value of such items is excluded from GDP.
c
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Liquidity is the
A) speed with which the price of an asset changes as its intrinsic value changes. B) inverse of the velocity of money. C) same as the velocity of money. D) ease with which an asset can be converted into money.
If government did not individual rights, the efficiency of a market economy_____
a. would decline b. would be about the same c. would increase d. could possibly decline or possibly increase
What's the firm's contribution margin per unit?
a. $12 b. $10 c. $8 d. $4
If the price of a good increases compared to the base year, then the price level also increases
a. True b. False Indicate whether the statement is true or false