One of the weaknesses in pursuing the objective of profit maximization is that it ignores
A) the timing of cash flows.
B) the time-value of money concept.
C) the riskiness of cash flows.
D) All of the above
D
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When one nation specializes in the production of one good and another nation specializes in the production of another good, more of both goods can be produced
Indicate whether the statement is true or false
Economists may hold many different views about the economy but on this they all agree: That price is always lower in a perfectly competitive market than in a monopoly market
Indicate whether the statement is true or false
A normal good is a good whose quantity demanded
a. rises when its price falls. b. falls when the price of a related good falls. c. falls when the consumer's total utility rises. d. rises when the consumer's real income increases.
Which of the following explains why the Fed is able to have a dramatic effect on aggregate demand and real output in the short run?
A. price confusion that speeds up the adjustment of real GDP B. money illusion that speeds up the adjustment of the price level C. sticky prices that slow the adjustment of the price level D. sticky wages that slow the adjustment of real GDP