Economic principles and models are tools for ascertaining ________ and _________ within an economic system.
Fill in the blank(s) with the appropriate word(s).
cause; effect
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Price increases always reduce economic efficiency.
Answer the following statement true (T) or false (F)
What is the "underwriting spread?"
A) the average percentage of the total bond issue handled by a member of an underwriting syndicate B) the difference between the price the underwriters receive and the price they pay the borrower C) the length of time the underwriter agrees to withhold the bonds from the primary market D) the number of financial institutions in the underwriting syndicate
Suppose Winston's annual salary as an accountant is $60,000, and his financial assets generate $4,000 per year in interest. One day, after deciding to be his own boss, he quits his job and uses his financial assets to establish a consulting business, which he runs out of his home. To run the business, he outlays $8,000 in cash to cover all the costs involved with running the business, and earns revenues of $150,000. What are Winston's economic profits?
A. $78,000 B. $142,000 C. $138,000 D. $150,000
International trade permits greater consumption than would be possible from the domestic production alone
a. True b. False Indicate whether the statement is true or false