Classical growth theory predicts that increases in
A) competition increase economic growth.
B) real GDP per person are temporary and not sustainable.
C) resources permanently increase real GDP per person.
D) real GDP per person are permanent and sustainable.
E) resources permanently increase labor productivity.
B
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Discrimination is generally easy to detect on a case-by-case basis because the circumstances surrounding the decision to discriminate are rarely subjective
Indicate whether the statement is true or false
Historically, the U.S. governmental structure and political system
(a) changes in the presence of a system of checks and balances as circumstances change. (b) is a fixed structure and, therefore, provides the stability needed to support productive activities. (c) guarantees that only the qualified can vote. (d) strongly protects the economic interests of capitalists identified as responsible for economic growth.
Figure 10.6 shows prices, demands, and cost data for the only restaurant in a small town. If the restaurant charges the single price of $8 per meal, what is its profit from non-senior customers?
A. $1,200 B. $1,500 C. $2,280 D. $2,560
Another name for a surplus is
A) excess quantity supplied. B) excess quantity demanded. C) equilibrium. D) market clearing.