In economics, physical capital includes
A. bank deposits.
B. money.
C. machinery.
D. shares of company stock.
Answer: C
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In the market for bananas, the price is $2.00 a bunch. An increase in the supply of bananas decreases the price of bananas and ________
A) the quantity supplied increases because the price falls B) increases the demand for bananas C) increases the quantity of bananas demanded D) creates a shortage of bananas
In the circular flow model, for every flow of goods, services, and resources there is a counter-flow of
a. more goods, services, and resources b. people from firms to households c. people from households to firms d. money e. land, labor, capital, and entrepreneurship
Suppose the accompanying table describes the demand for a good produced by monopolist.PriceQuantity$101$92$83$74$65$56$47The monopolist's marginal revenue from selling the 4th unit of output is less than $7 because:
A. marginal cost is greater than $3. B. demand is perfectly elastic. C. the consumer only pays $4 for the 4th unit. D. it has to charge $1 less for each of the first 3 units of output.
Fiat money is money by government decree.
Answer the following statement true (T) or false (F)