What name is given to the economic process of turning inputs into outputs that a business will sell to customers?
A. Revenue
B. Production
C. Profit maximization
D. Profit
Answer: B
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If a country's currency ________ the dollar, its exchange rate is fixed
A) is exchanged in currency markets for B) has a floating exchange rate value which is equal to C) depreciates against D) is pegged to
To attract more bidders, and more aggressive bidders, to your auction
a. reveal all of the relevant information about the value of the object b. don't allow bidders to know how others are bidding c. do not allow potential bidders to examine the object too closely d. do not hold oral auctions
Which of the following are not counted when we compare a family's income to the poverty line?
a. In-kind transfers such as food stamps, Medicaid, and public housing. b. Cash welfare payments such as from social security. c. Cash payments when a worker becomes unemployed. d. Both a. and b. above are correct.
The price elasticity of demand for heart transplants is perfectly inelastic. Thus, the price elasticity demand for heart transplants is
A. 1.0. B. 0.0. C. -1.0. D. -100.0.