Advocates of an unregulated market system argue that
A. competition promotes efficiency.
B. competition leads to product variety and quality.
C. competition leads to innovation.
D. all of the above.
Answer: D
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Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
You can invest $100,000 into either project A or B. You estimate that A would succeed with a probability of 0.7 in which case it doubles in value. If it fails, its scrap value is $50,000 . Project B would succeed with probability 0.6, in which case it would have a value of $150,000 . If it fails, project B's scrap value is $30,000 . Which project should you invest in?
a. Project A b. Project B c. Neither of the projects d. You cannot tell from the information presented
The fair trade movement:
A. attempts to inform and influence consumers' choices. B. is a set of laws around production processes in other nations. C. is designed to stop unfair trade practices. D. a big hindrance to international trade.
When government spending increases, consumption also increases via the multiplier process.
Answer the following statement true (T) or false (F)