Interest can be defined as
A) the amount of funds loaned to a creditor.
B) the participation of a shareholder in the operations of a firm.
C) the return paid to owners of capital.
D) the return above opportunity cost paid to owners of a firm.
Answer: C
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In economics, the factor of production "land" includes all of the following EXCEPT
A) animals, birds, and fish. B) energy. C) wild plants. D) oil. E) plastics.
Refer to the figure above. With the tariff, the quantity of imports falls to
A) 10,000 units. B) 12,000 units. C) 14,000 units. D) 22,000 units.
In monopolistic competition, there are no brands, all the producers produce only identical, generic products
a. True b. False Indicate whether the statement is true or false
Suppose the MPC is 0.9 . If autonomous consumption spending increases by $20 billion, equilibrium output will
a. increase by $22.2 billion b. increase by $200 billion c. not change because the MPC only changes consumption when income changes d. not change because the expenditures multiplier only applies to changes in investment spending and government purchases e. increase by $18 billion