People pursue ________ projects in the market and ________ projects in government
A) their own; their own
B) their own; others'
C) private; public
D) individualistic; socialistic
A
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When a firm decides to produce more electric cars and conventional gas powered cars, it is most directly answering the ________ part of one of the two big economic questions
A) "how" B) "scarcity" C) "what" D) "for whom"
The accounting framework used in measuring current economic activity is called
A) the U.S. expenditure accounts. B) the national income accounts. C) the flow of funds accounts. D) the balance of payments accounts.
The production period in which at least one input is fixed in quantity is the
A) production run. B) long run. C) short run. D) planning horizon.
Apple Computer is more likely to continue to use input markets rather than manufacture its own inputs internally when
a. the quality of inputs is difficult to determine b. switching among input suppliers is easy c. there are very few firms producing the input d. the input is difficult to identify and define e. transaction costs go up