One of the primary functions of markets could be labeled
a. stimulation.
b. coordination.
c. planification.
d. decentralization.
b
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A person's real income will increase by 3% if her nominal income increases by
A. 5% while the price index falls by 2%. B. 5% while the price index rises by 2%. C. 2% while the price index falls by 5%. D. 2% while the price index rises by 5%.
Davis and Huttenback (1982) find evidence to support the claim that the colonists were overtaxed by England
Indicate whether the statement is true or false
Components of economic growth are:
a. physical capital, human capital, and technology. b. physical capital, human capital, and savings. c. education, physical capital, and technology. d. physical capital, working capital, and technology.
Only final goods and services count in calculating the GDP.
Answer the following statement true (T) or false (F)