Since the end of World War II, the U.S. price level has:
a. increased tenfold
b. increased by an average of 10 percent each year.
c. increased and decreased with equal regularity, leaving the price level almost constant.
d. increased by 50 percent.
e. doubled.
a
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If the seller of a used car offers a limited warranty, the warranty is an example of a(n)
a. signal. b. screen. c. efficiency wage. d. agent.
Andrew Carnegie, Steven Jobs and Sam Walton were all innovators who are also considered _____________.
Fill in the blank(s) with the appropriate word(s).
Which would not be considered as capital (or an economic resource) by an economist?
a. A crane used by a building contractor b. A share of corporate stock issued by General Motors c. An automobile used by General Electric d. A razor used by a barber
One common source of market failure is:
A. perfect competition. B. pollution. C. perfect information. D. private goods.