What factor, more than anything else, tends to make people wealthy?
A) Time
B) Money
C) Productive knowledge
D) Control over non-renewable resources
E) The ability to day-trade internet-related stocks
C
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Under long-run perfect competition, which of the following are the same (equal) at all levels of output?
a. Price and marginal cost. b. Price and marginal revenue. c. Marginal cost and marginal revenue. d. All of these.
If people buy less chewing gum at every price when their incomes fall, then
a. chewing gum is a normal good b. the demand for chewing gum is downward sloping c. demand for chewing gum has increased d. the price of chewing gum has increased e. population has decreased
Resources are
a. scarce for households but plentiful for economies. b. plentiful for households but scarce for economies. c. scarce for households and scarce for economies. d. plentiful for households and plentiful for economies.
Suppose the issuer of a bond fails to pay some of the interest or principal that was promised to the bondholders. This failure is referred to as a
a. breach. b. default. c. risk. d. term failure.