To create a market
A) roles must be assigned.
B) agents need instructions.
C) property rights must be defined.
D) transactions costs must be zero.
C
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Refer to Figure 3-5. At a price of $0,
A) there is a shortage of 0 units. B) there is a surplus of 8 units. C) there is a surplus of 0 units. D) there is a shortage of 8 units.
When a country experiences high inflation and unemployment simultaneously, which of the following problems should be addressed first?
a. High price level b. High unemployment c. Low aggregate demand d. Low aggregate supply
Describe the difference between average revenue and marginal revenue. Why are both of these revenue measures important to a profit-maximizing firm?
Which of the following would increase gross private domestic investment in an economy?
A) an increase in the shares of Apple stock households own B) an increase in the number of workers Apple hires C) an increase in the level of Apple's inventory D) an increase in the number of highway construction projects the government is funding