A tie-in sale is when two firms merge together and are essentially tied together.
Answer the following statement true (T) or false (F)
False
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The fastest growing component of the annual federal budgets since 2000 is
A) entitlement payments. B) the education budget. C) funding for NASA. D) funding for health research.
Which of the following statements is true of money?
A) Paper money was invented around 1,000 A.D. in China. B) Paper money was the first form of money to be invented. C) One of the limitations of paper money is that it does not function as a store of value. D) Fiat money was used in the barter system of exchange.
Which of the following explains why supply is more elastic as more time passes?
A) It is difficult or impossible to increase the quantity produced in a short period of time. B) Consumers have more time to search for substitutes. C) Sellers try to take advantage of a high price in the short term. D) The supply curve becomes generally steeper as more time passes. E) There is no explanation for this phenomenon.
You are studying with a friend and your friend says, "Private goods are excludable and nonrival, while public goods are nonexcludable and rival." Do you agree?
What will be an ideal response?