Question 3/5 Which choice or choices best describes the purpose of an
emergency fund?
An emergency fund prepares you for unexpected
expenses.
An emergency fund keeps you from borrowing
money from friends and family.
An emergency fund removes the worry about
expenses not in the budget.
All of the above are good reasons to have an
emergency fund

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

Which of the following would be an accurate statement about achieving a balanced budget