Deposits in savings accounts are included in
A) M1. B) M2.
C) both M1 and M2. D) neither M1 nor M2.
B
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Under a marginal cost pricing rule, a natural monopoly
A) makes a reasonable profit. B) makes an economic profit. C) earns accounting profits, but breaks even in economic terms. D) incurs an economic loss. E) makes a normal profit, but it cannot be determined whether or not it makes an accounting profit.
________ account for the largest portion of all firms; ________ account for most of the total revenue received by businesses
A) Proprietorships; partnerships B) Proprietorships; corporations C) Partnerships; corporations D) Corporations; proprietorships
Suppose the production function for a certain device is q = L + K. If neutral technical change has occurred, which of the following could be the new production function?
A) q = L + 5K B) q = 5 ? (L + K) C) q = 5L + K D) All of the above are possible.
Reciprocity between two countries implies that
a. neither will trade with the other b. trade flows freely across the two countries' borders c. trade can only be beneficial to one of the countries d. each agree not to trade with any other countries e. you do unto others as they do unto you