A subsistence economy is
a. a very low income economy.
b. an economy in which people make what they consume.
c. an economy in which people receive food for pay.
d. all of the above.
B
You might also like to view...
Rent is the payment received by resource owners for the use of their natural resources
a. True b. False
Is the monetary policy reaction curve applicable only to central banks that have an explicit inflation target? Explain.
What will be an ideal response?
An upward sloping labor supply curve suggests that;
A. there is no substitution effect. B. the income effect outweighs the substitution effect. C. the substitution effect outweighs the income effect. D. None of the choices are correct.
Some of the promising approaches to reducing the natural rate of unemployment have to do with education, training, and job placement. What implementation problems do you anticipate?
What will be an ideal response?