The goods or services purchased by a business for immediate use in the production process are known as
A. intermediate outputs.
B. intermediate inputs.
C. production outputs.
D. production inputs.
Answer: B
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Credit cards are
A) money but are not a large part of the money supply. B) not money. C) money and are the largest part of the money supply. D) not money because they are not made of paper.
Dumping is considered a practice that seriously harms domestic producers because
A) the quality of the dumped good is superior to that of the importing country. B) it allows the exporting country to use poor quality materials. C) it establishes a price that cannot be met by domestic producers. D) it discriminates between wealthy and poor countries.
Identify the correct statement about the effect of an expansionary monetary policy in an economy
a. It results in an increase in real gross domestic product in the short run and inflation in the long run. b. It results in a decrease in real gross domestic product in the short run and inflation in the long run. c. It results in an increase in real gross domestic product in the short run and deflation in the long run. d. It results in a decrease in real gross domestic product in the short run and deflation in the long run.
Cite an advantage and a disadvantage for command-and-control vs. incentive-based approaches. Then do the same for environmental taxes vs. emissions trading.
What will be an ideal response?