If the government conducts a survey asking it citizens how much they value having potholes filled in, we can expect
a. an accurate evaluation of the work.
b. citizens to understate the value of the work.
c. citizens to exaggerate the value of the work.
d. most citizens to refuse to answer.
c. citizens to exaggerate the value of the work.
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Everything else held constant, if aggregate output is to the ________ of the LM curve, then there is an excess supply of money which will cause the interest rate to ________
A) right; fall B) right; rise C) left; fall D) left; rise
If retailers' marginal cost from providing product-specific services for a new smart television is $50, if retailers offer the product-specific services for the television, the market ________ will ________.
A) supply; shift to the right B) supply; shift to the left C) demand; shift to the left D) supply, not shift
Draw a long-run average cost curve that first exhibits increasing returns to scale (economies of scale), then constant returns to scale, and finally decreasing returns to scale (diseconomies of scale). Label each region
Which of the following is considered financial capital?
A. Money that accumulates as profit in a firm's checking account. B. Stock and bonds sold to finance operations. C. Funds a firm has in a savings account to be used to buy equipment that wears out. D. All of these are financial capital.