Government production accounts for about half of all GDP in the United States.
Answer the following statement true (T) or false (F)
False
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Refer to Figure 7-5. If consumers paid the full price of medical services, the equilibrium quantity would be
A) 400. B) 800. C) 1,200. D) > 1,200.
The object of U.S. technological choices, according to Rosenberg (1963), was to conserve scarce productive factors and exploit plentiful ones
Indicate whether the statement is true or false
Suppose Embryonica is an LDC with few skilled workers, a primitive banking system, and very little electric power. What do we know for sure that Embryonica is lacking?
a. Infrastructure. b. Political stability. c. Agricultural sector. d. Traditional values. e. Poverty.
Which of the following is most likely a fixed cost?
A. The labor on an automotive assembly line. B. The electricity used to run packaging equipment. C. The rent for a factory. D. The material used to make jackets.