An indifference curve is a line showing
a. combinations of goods that can be produced if all resources are fully employed.
b. all combinations of two commodities that are equally desirable to the consumer.
c. all combinations of goods over which the consumer has no choice.
d. how decisions are made in a nonmarket economy.
b
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According to Porter's Five Competitive Forces Model, similar products produced by different firms within the industry affects a firm's ability to raise prices far more than substitutable products produced outside the industry
Indicate whether the statement is true or false
Accurate measurement of GDP is important to business decision-makers because this information will help them better determine the
a. general happiness of a country's citizens. b. course of the economy and the direction of demand for their products. c. economic well-being of a particular group within a country. d. amount of leisure time available and the quality of life in a country.
Inflation is undesirable because it:
A. distorts the information value of prices. B. always makes the nation poorer. C. redistributes income from those who can raise prices to those who cannot. D. makes everyone worse off.
Which one of the following would best describe a mutual fund?
A. An investment that is available at many banks and is FDIC insured B. A company that manages a portfolio that is purchased by pooling the money of its investors C. A debt contract that is issued by a company and offers interest payment on the loan D. Ownership of shares in a corporation with no guarantee the company will be profitable