Which of the following is a desirable property of money?
a. Scarcity
b. Portability
c. All of the answers are correct.
d. Divisibility
c
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Marginal product measures the change in:
a. total cost brought about by changing production by one unit. b. product price brought about by changing production by one unit. c. a firm's revenue brought about by changing production by one unit. d. the firm's output brought about by employing one additional unit of input. e. the firm's profit brought about by employing one more input.
High gasoline prices give people all of the following incentives EXCEPT
A) to drive less. B) to car pool. C) to buy a hybrid car. D) to take vacations that require driving more miles.
In the case of Interstate Bakeries and Continental Bakery, the Justice Department concluded that:
A. the merger of two firms selling close substitutes may lead to higher prices. B. Interstate Bakeries attempted to drive out Continental by using predatory pricing. C. a merger between the two companies would save money in production costs, and so would be good for consumers. D. Continental attempted to drive out Interstate Bakeries by using predatory pricing.
One important factor that affects economic growth is
A. which political party is in power. B. the amount of money supply. C. the number of workers in heavy industry. D. the rate of saving.