Most economists - both liberals and conservatives - believe a balanced budget amendment is an ill-conceived idea.
A. True
B. False
C. Uncertain
A. True
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The free-market system coordinates output decisions by pushing
A. up price when there is a shortage. B. down price when quantity demanded exceeds quantity supplied. C. up price when there is a surplus. D. up price when quantity supplied exceeds quantity demanded.
Jorge deposited $1,000 into an account three years ago. The first two years he earned 5 percent interest; the third year he earned 6 percent interest. How much money does Jorge have in his account today?
a. $1,157.90 b. $1,168.65 c. $1,176.00 d. None of the above are correct to the nearest cent.
In terms of business strategy, managers will attempt to adopt business strategies that
A. stabilize opportunity costs. B. minimize transaction costs. C. minimize sunk costs. D. maximize transaction costs.
Which of the following would be an example of a fixed cost?
A) the electric and gas bills B) wages paid to temporary workers C) property insurance premiums D) expenditures on imported raw materials