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
Economics
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Which of the following is not a common characteristic of oligopolistic firms?
a. high barriers to entry b. mutual interdependence c. a large number of sellers d. nonprice competition
Economics
The profit-maximizing output of a pure monopoly is not socially optimal because in equilibrium:
A. price equals minimum average total cost. B. marginal revenue equals marginal cost. C. marginal cost exceeds price. D. price exceeds marginal cost.
Economics