In economics, another term for satisfaction is
A) scarcity.
B) need.
C) utility.
D) return.
Answer: C
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Economies of scope exist when
A) the total cost of production falls as the output increases. B) a firm hires specialized resources to produce a range of goods and services. C) a firm uses outsourcing to produce a good or service. D) the cost of producing a unit of a good falls as its output increases.
Which of the following will be a short run impact of a pre-election expansionary fiscal policy, public expectations remaining constant?
a. An increase in unemployment b. A decline in real GDP c. An increase in real GDP d. A fall in the rate of inflation e. An economic recession
Suppose you purchase a put option to sell General Motors common stock at $80 per share in March. The current price of GM stock is $83 and the time value of the option is $1. What is the intrinsic value of the option?
What will be an ideal response?
If this quote is TRUE, what would the neoclassical growth theory predict?
A) Economic growth stops because most technological advances have already been made. B) Economic growth is temporary regardless of technological change and GDP per person returns to subsistence levels. C) Economic growth will persist indefinitely because technological change will accelerate again as firms seek profits. D) Economic growth will accelerate because these technological changes are permanent.