The four factors of production (or types of resources) are
a. land, labor, capital, and entrepreneurial ability.
b. labor, capital, technology, and entrepreneurial ability.
c. labor, capital, entrepreneurial ability, and money.
d. land, labor, capital, and money.
a. land, labor, capital, and entrepreneurial ability.
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Modern portfolio analysis assumes that individuals
A) are risk-averse. B) attempt to maximize liquidity. C) attempt to maximize returns regardless of risk. D) never take risks.
If the money supply is $80 billion, the velocity of money is 5, and real GDP is $320 billion, then the price level equals:
a. 51.20. b. 20. c. 4. d. 2.75. e. 1.25.
Which of the following assets are counted in M1?
A. transaction deposits B. line of credit C. bonds D. mutual funds accounts
Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.
Figure 6.5Refer to Figure 6.5. Molly's budget constraint is BD. If the price of CDs increases, her new budget constraint becomes
A. EF. B. BD. C. AD. D. CD.