To graph a relationship among several variables, we hold all but ________ variable(s) constant and use the ________ assumption
A) one; scarcity
B) two; ceteris paribus
C) three; scarcity
D) one; ceteris paribus
E) one; absence of trend
B
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A government subsidy is typically used
A) to correct a negative externality. B) to provide a government-inhibited good. C) to reduce inflation. D) to correct a positive externality.
Which definition of the money supply includes credit cards?
a. M1. b. M2. c. M3. d. None of these includes credit card balances.
Growth should
A) be the only strategy. B) be a possible strategy. C) never be a strategy. D) be a strategy only if it minimizes ATC.
Unlike implicit costs, explicit costs:
A. reflect opportunity costs. B. include the value of the owner's time. C. are not included in the accounting statement of the firm. D. are actual cash payments.