In the actual economy, goods and services are purchased by
a. households, but not firms or the government.
b. households and firms, but not the government.
c. households and the government, but not firms.
d. households, firms, and the government.
d
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A university must decide if it should stop offering foreign language classes. This decision involves answering the economic question of "how to produce."
Indicate whether the statement is true or false
Describe how a sudden stop leads to a financial crisis
What will be an ideal response?
Answer the question on the basis of the following information. A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are
hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. Refer to the given information. How many workers should the farmer hire? A. 1. B. 2. C. 3. D. 4.
Positive economic analysis
A. involves value judgments. B. concerns what ought to happen. C. addresses factual issues. D. is subjective.