In economics, money refers to
A. currency.
B. income.
C. assets used and accepted as payment.
D. wealth.
Answer: C
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The number of part-time workers for economic reasons ________ during recessions and the number of part-time workers for noneconomic reasons ________ during recessions
A) increases; increases B) increases; decreases C) increases; does not change D) does not change; does not change E) decreases; increases
A portfolio is a
A) brokerage house specializing in the trading of common stock. B) brokerage house specializing in the trading of corporate bonds. C) measure of the risk involved with a holding a particular asset. D) collection of assets.
Scarcity and choice are the basic problems of economics; the supply and demand mechanism is the basic investigative tool of economics
a. True b. False Indicate whether the statement is true or false
The necessary condition(s) to realize economies of scale include
A. having the financial resources for the high capital costs. B. having sufficient demand for the product. C. both financial resources for the high capital costs and sufficient demand for the product.