In economics, investment refers to the process of accumulating:
a. capital goods. b. consumer goods.
c. money. d. stocks and bonds.
a
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The famous historical example of the commitment strategy used by Cortes against the Aztecs is sometimes referred to as:
A. "burning your boats." B. "burning your bridges." C. "friendly fire." D. "putting all your eggs in one basket."
A price ceiling set above the equilibrium price causes a surplus in the market
a. True b. False Indicate whether the statement is true or false
Money fulfills which of the following functions?
a. a medium of exchange b. a unit of account c. a store of value d. all of the above are functions of money
The marginal revenue of a monopolist
A. Is equal to price at all output levels. B. Is positive up to the rate of output that maximizes total revenue. C. Is negative up to the rate of output that maximizes total revenue. D. Is above a downward-sloping demand curve.