The wage a person requires before accepting a job is referred to as the ________ wage.
A. compensating
B. reservation
C. psychological
D. minimum
Answer: B
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In the long run, a perfectly competitive firm can
A) only make an economic profit. B) only make zero economic profit. C) only incur an economic loss. D) make an economic profit, make zero economic profit, or incur an economic loss.
The two major types of finance company are
A) captive and specialty. B) public and private. C) consumer and commercial. D) insured and uninsured.
The balance of payments ____________
a. is positive when the nation has a trade surplus b. is an itemized account of a nation's foreign economic transactions c. for some nations is positive and for others is negative but for the sum of all nations is zero d. is negative when the nation has a trade deficit e. can only be expanded when the government has foreign exchange reserves
A monopoly price reflects a good’s marginal utility.
Answer the following statement true (T) or false (F)