In a closed economy, investment must be equal to private saving
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal revenue is ________ per pound of cookies
A) $11 B) $15 C) $30 D) $45
Individuals cannot buy unemployment insurance for themselves. The most likely reason for this is
a. moral hazard. b. imperfect information. c. a culture of poverty. d. the free-rider problem.
In empirical analyses of factors that help explain wages,
a. effort and ability are not likely to contribute to large differences in wages in the U.S. economy. b. economists typically find that measurable factors explain less than half of the variation in wages. c. economists typically find few factors that are not explicitly measurable. d. unmeasurable influences on wage differences are found to be quite small.
Comparative advantage refers to the ability to produce output with fewer resources than any other country.
Answer the following statement true (T) or false (F)