As a method of resource allocation, force
A) is not important.
B) plays a crucial negative role.
C) plays a crucial positive role.
D) plays a crucial role for both good and ill.
D
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In perfect competition, when market demand decreases, explain how the price of the good and the output and profit of each firm changes in the short run
What will be an ideal response?
Other things being equal, the effects of a decrease in the price of orange juice, is represented by which of the following?
a. A rightward shift in the demand curve for orange juice. b. An increase in the quantity demanded for orange juice. c. A leftward shift in the demand curve for orange juice. d. A decrease in the quantity demanded orange juice.
During the current year, Jessica sold her house, built two years ago, to Kim for $175,000 . Kim then sold the house to Dave for $185,000 . How much does GDP increase due to these transactions?
a. $370,000 b. $175,000 c. $185,000 d. $360,000 e. $10,000
Are checking accounts money?
A. No, because checking accounts cannot be traded for goods and services. B. Yes, because checking accounts can be used to buy goods and services. C. No, because checking accounts are not physical money. D. Yes, because the value of a checking account is measured in dollars.