Which of the following is not true about the use of a credit card?
A. It is a means of deferring payment for a short period of time
B. It allows people to "economize" on the use of money
C. Credit-card balances are part of M2, but not part of M1
D. A credit card transaction is not the same as a debit card transaction
C. Credit-card balances are part of M2, but not part of M1
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When supply is written as Q = c + dP and P and Q are the equilibrium values for price and quantity, which of the following is the value of the price elasticity of supply, ES?
A. -c/d B. c(P/Q) C. -d/c D. d(P/Q)
The ability to deter entry requires
A) a credible threat that if entry occurs the firm is willing to produce more than they would otherwise. B) a credible threat that if entry occurs the firm will not produce more than they would otherwise. C) a good lawyer. D) a clever accounting department.