M1 is a measure of
What will be an ideal response?
money and includes both currency and checking deposits
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Which of the following statements about product development in monopolistic competition is correct?
i. Firms in monopolistic competition undertake too much product development for efficiency. ii. Firms in monopolistic competition undertake too little product development for efficiency. iii. Product development might allow the firm to temporarily earn an economic profit. A) i only B) ii only C) ii and iii D) i and iii E) iii only
The demand for potatoes at current prices is likely to be
A. elastic. B. inelastic. C. unit elastic. D. perfectly elastic.
K - 12 public education in the U.S. is paid for mainly by the _____ tax.
A. income B. sales C. excise D. property
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. represents underallocation of resources. B. represents what the people want. C. is efficient and attainable. D. cannot be produced with the current state of technology.