A firm's net income is also its
A) opportunity cost. B) accounting profit. C) balance sheet. D) economic profit.
B
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A major characteristic of monopoly is that
A) no barriers to entry exist. B) the product is identical to that produced by other companies. C) a barrier to entry keeps out competitors. D) competition is intense. E) a few firms compete with each other.
In explaining economic growth, new growth theory stresses the role played by
A) women in the workforce. B) the government in directing the nation's investments. C) population moderation. D) the participation rate of elderly workers. E) human choices.
A car dealer advertises free satellite radio for one year with the purchase of a new car. This is an example of:
A. bait and switch. B. marginal sales. C. an incentive. D. voluntary exchange.
Which of the following is a difference between M1 and M2? a. M1 includes the most liquid assets, while the assets included in M2 are comparatively less liquid
b. M2 includes the most liquid assets, while the assets included in M1 are comparatively less liquid. c. M2 includes bank accounts from which money can be withdrawn with personal checks, while M1 includes bank accounts from which money cannot be withdrawn with personal checks. d. M2 includes bank accounts from which money can be withdrawn with personal checks, while M1 includes bank accounts from which money can be withdrawn with debit cards.