In the American economy, the central figure is the ________________.
Fill in the blank(s) with the appropriate word(s).
entrepreneur
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The gold standard is an example of a ________ exchange rate system.
A. dollarized B. flexible C. fixed D. nominal
Which of the following factors can delay the entry of new competitive firms into the oligopoly market characterized by a dominant firm and some fringe firms?
a. Mergers and acquisitions b. Price threat c. Brandname and reputation of the dominant firm d. Quality controls set by the government
Suppose you are deciding whether or not to buy a particular bond for $5,980.17 . If you buy the bond and hold it for 5 years, then at that time you will receive a payment of $10,000 . You will buy the bond today if the interest rate is
a. no less than 9.48 percent. b. no greater than 9.48 percent. c. no less than 10.83 percent. d. no greater than 10.83 percent.
According to Say's law,
A) the demand curve is negatively sloped. B) the supply curve is positively sloped. C) supply creates its own demand. D) economic units should produce those goods for which they are low-opportunity-cost producers.