The dividing line between small CDs and large CDs is $_______.
Fill in the blank(s) with the appropriate word(s).
100,000
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In a perfectly competitive industry, the demand for a single firm's product is
A) perfectly inelastic. B) perfectly elastic. C) as elastic as the market demand. D) inelastic, but not perfectly inelastic.
An entry barrier exists when firms in an industry charge the lowest price possible for their products
Indicate whether the statement is true or false
Using the liquidity preference framework, what will happen to interest rates if the Fed increases the money supply?
What will be an ideal response?
You purchase a bag of chocolate chips for $3, a bag of flour for $1, a bag of sugar for $.50, a half dozen eggs for $.50, and a half pound of butter for $2. You use all these ingredients to make three dozen cookies. Your roommate offers you $15 for them, and you happily accept. How much does this process contribute to GDP?
A. $7 B. $15 C. $22 D. $8