A firm in a market economy must do all of the following to succeed except
A) produce the goods and services that consumers want at a lower cost than consumers themselves can produce.
B) organize the factors of production into a functioning, efficient unit.
C) have access to sufficient funds.
D) be organized as a corporation.
Answer: D
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Which of the following best describes the "interest rate effect"?
A) An increase in the price level lowers the interest rate and chokes off investment and consumption spending. B) An increase in the price level lowers the interest rate and chokes off government spending. C) An increase in the price level raises the interest rate and chokes off government spending. D) An increase in the price level raises the interest rate and chokes off investment and consumption spending.
If M stand for the money supply, V for the velocity of money, P for the average selling price, and Q for the output of goods and services, the equation of exchange is MV = PQ
a. True b. False Indicate whether the statement is true or false