The value of money is based on
a. the amount of gold backing the money.
b. its designation by the government as legal tender.
c. the level of interest rates.
d. the goods and services that a given amount of money will buy.
d. the goods and services that a given amount of money will buy.
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A firm is producing a joint product, Product A and Product B, with variable proportions. At its current production levels, the marginal benefit of producing Product A is $10 and the marginal cost is $8 and the marginal benefit of producing Product B is $2 and the marginal cost is $6. To maximize profits, the managers of the firm should produce ________ of Product A and ________ of Product B.
A) more; less B) less; less C) less; more D) more; m
If intended investment is $1 billion and unwanted inventory is $0, then we know that
a. all of the following statements are true b. saving = $0 c. consumption = $1 billion d. the economy will grow e. actual investment = $1 billion
The market for automobiles in China has experienced tremendous growth primarily because of
A. the invention of new products. B. relaxed emissions standards in China. C. rising incomes in China. D. higher wages of American workers.
A stable monetary environment will typically lead to a. inflation
b. producers and consumers better coordinating their decisions through markets. c. independence of central banks. d. increased trade deficits and limited budgets deficits.