Supply will become more elastic when
A. there are good substitutes for the goods.
B. a time period lengthens.
C. the good is important to consumers.
D. the time period shortens.
Answer: B
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One shortcoming of real GDP as an indicator of society's social well-being is that it fails to take into account the:
A. growth in productivity. B. increase in the quantity of goods. C. change in the price level. D. non-market production.
Discuss the rationales for foreign financing of investment in developing actions and explain how developing countries benefit from international capital investment
What will be an ideal response?
In the above figure, the opportunity cost of moving from producing 75 guitars and 25 ukuleles to producing 25 guitars and 75 ukuleles is
A. 25 guitars. B. 25 ukuleles. C. 75 ukuleles. D. 50 guitars.
When using a logarithmic scale to plot output per capita over time, an upward-sloping curve that becomes increasingly steep indicates
A) output per capita is not changing. B) output per capita is growing by a constant amount each year. C) output per capita is growing by a constant percentage each year. D) output per capita is growing by an increasing percentage each year. E) output per capita is not defined.