Resources are also referred to as outputs.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Which of the following is not always correct for a closed economy?
a. National saving equals private saving plus public saving. b. Net exports equal zero. c. Real GDP measures both income and expenditures. d. Private saving equals investment.
Briefly describe the practice of predatory pricing
If the market for tires is monopolistically competitive:
A. no seller can control the price of the product. B. no firm has any monopoly power. C. the demand curve for each seller's product is perfectly elastic. D. sellers can influence the market price of the product.
The Board of Governors of the Federal Reserve System can increase commercial bank reserves by:
a. Increasing the reserve ratio b. Buying government securities in the open market c. Decreasing the prime interest rate d. Increasing the discount rate