Complete this sentence: in a market system income is generally earned
A) independently of acts of exchange and production.
B) arbitrarily and randomly.
C) unproductively.
D) in the process of its creation.
D
Economics
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If an incumbent faces an identical potential entrant with no costs of entry, the incumbent will
A) produce the Cournot duopolist level of output. B) produce the Stackelberg leader level of output. C) set price equal to marginal cost. D) shut down.
Economics
An increase in the interest rate will cause
A) a reduction in the supply of central bank money. B) a reduction in the demand for currency. C) a reduction in the demand for reserves. D) all of the above E) both B and C
Economics