Civil law provides business with more certainty because it is based on precedent
a. True
b. False
B
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According to the Solow model, given the levels of total efficiency units of labor and technology:
A) efficiency units of labor do not play any role in the determination of steady-state equilibrium level of GDP. B) there is a maximum fixed level of GDP that an economy can achieve by increasing savings. C) increases in the savings rate is the sole reason for sustained economic growth. D) increases in the rate of physical capital accumulation can be the sole reason for sustained economic growth.
In the kinked demand curve model, if one firm reduces its price
A) other firms will also reduce their price. B) other firms will compete on a non-price basis. C) other firms will raise their price. D) Both A and B are correct. E) Both B and C are correct.
There is news that the price of Tucker's Root Beer will increase significantly next week. If the demand for Tucker's Root Beer reacts only to this factor and shifts to the right, the position of this demand curve has reacted to a change in:
a. tastes. b. income levels. c. the price of other goods. d. the number of buyers. e. expectations.
The Federal Reserve System is controlled by the
a. U.S. Department of the Treasury. b. House of Representatives and the Senate. c. Board of Governors. d. President of the United States.