U.S. prisoners of war during World War II used cigarettes as a medium of exchange
Indicate whether the statement is true or false
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In the United States -since 1981- which two of the following have almost always moved in the same direction?
A) net exports and the government sector balance B) net exports and the private sector balance C) the government sector balance and the private sector balance D) none of the above
If products similar to the intermediate good can be bought externally, an approximation of the correct transfer price is
a. average costs b. average fixed costs c. average variable costs d. the market price
A utility function is a mathematical function that assigns values to consumption bundles to represent the:
A. consumer's income. B. consumer's preferences. C. marginal rate of substitution. D. prices of the goods in the consumption bundle.
All of the following are advantages of a corporation EXCEPT
A. unlimited life. B. limited liability. C. double taxation. D. ability to raise large sums of financial capital.