Consumers purchase products in ________ markets.
A. resource
B. factor
C. output
D. input
Answer: C
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Which of the following is true?
A. The completion of the transcontinental railroad system in the 1880s eventually made the United States the world's first mass market. B. Southern manufacturers were hurt by the high protective tariffs of the 19th century that kept out cheaper British manufactured goods. C. Agricultural inventions such as John Deere's steel plows greatly improved farm productivity. D. All of the choices are true.
Why might an economist argue that it could be damaging to the economic growth of a nation if it focused mostly on the production of consumer goods?
What will be an ideal response?
Which of the following statements is true?
A. A truncated regression is a special case of a random sample selection. B. Nonrandom sample selection can arise in cases of cross-sectional and time series data, but not in the case of panel data. C. The Tobit regression model is based on endogenous sample selection. D. The censored regression model is based on nonrandom sample selection.
On this graph, what would be the price level when RGDP demanded equal $17 trillion?
a. 90
b. 95
c. 100
d. 105