Not having to pay for a good leads to:
A. oversupply.
B. overconsumption.
C. underconsumption.
D. irrational consumption.
Answer: B
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The slope of a line equals the change in the variable measured along the
A) x-axis divided by the change in the variable measured along the y-axis. B) y-axis divided by the change in the variable measured along the x-axis. C) x-axis minus the change in the variable measured along the y-axis. D) x-axis multiplied by the change in the variable measured along the y-axis. E) y-axis minus the change in the variable measured along the x-axis.
Abigail wishes to spend more time this week studying for her classes. Using the idea of a production possibilities curve, and assuming Abigail is currently spending all of her time efficiently, Abigail can spend more time studying this week only if
a. she also spends more time doing other things. b. she spends less time doing other things. c. Daylight Savings Time begins this week, so everyone moves their clocks ahead one hour. d. none of the above.
The United States generally has a comparative advantage in the development of technology because it has:
A. large amounts of natural resources. B. patent laws, which no other country has. C. a disproportionate share of the world's best research universities. D. the greatest need for new technology.
The M1 definition of money includes money market accounts.
Answer the following statement true (T) or false (F)