Central planning refers to
a. markets guiding economic activity. Today many countries that had this system have abandoned it.
b. markets guiding economic activity. Today many countries that did not have this system have implemented it.
c. government guiding economic activity. Today many countries that had this system have abandoned it.
d. government guiding economic activity. Today many countries that did not have this system have implemented it.
c
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Refer to the scenario above. The demand for Sporty's soccer balls is 2,500 units if ________
A) the price charged by Sporty is higher than the price charged by Go! B) the price charged by Go! is higher than the price charged by Sporty C) the price charged by Sporty is equal to the price charged by Go! D) the price charged by Go! is higher than the unit cost of producing a ball
If a 10 percent price increase causes the quantity demanded for a good to decrease by 20 percent, demand is elastic
a. True b. False Indicate whether the statement is true or false
Suppose the interest rate is 8%. If a project requires an initial investment of $5,000 and returns $5,500 in a year, what is its internal rate of return?
A. 2% B. 8% C. 10% D. 18%
Perfectly competitive markets are responsive to the demand of consumers.
Answer the following statement true (T) or false (F)