Organizations that transform resources into products are known as
A. households.
B. factors.
C. entrepreneurs.
D. firms.
Answer: D
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Considering two countries X and Y, country X has an absolute advantage in the production of a good when it can produce the good using fewer resources than country Y
Indicate whether the statement is true or false
Economists believe that as a saver's wealth increases, the saver will generally
A) increase his or her holdings of all assets proportionately. B) increase the fraction of wealth held as cash. C) increase the fraction of wealth held as common stock. D) decrease the fraction held as corporate bonds.
What is a long-run supply curve?
What will be an ideal response?
You do not worry about how your bank is investing your money because your deposits are federally insured. This is an example of:
A. a positive spillover. B. moral hazard. C. adverse selection. D. irrational behavior.