The following are impediments to economic growth EXCEPT
A) dead capital.
B) increased education.
C) lack of economic freedom.
D) bureaucratic inefficiency.
B
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Entrepreneurs contribute to increased average labor productivity in each of the following ways except by:
A. developing new products. B. introducing new production methods. C. assigning workers to jobs. D. implementing new technological processes.
The firm in the figure above has a total cost equal to ________
A) $5.10 × 10 B) $8.00 × 10 C) ($5.10 - $8.00 ) × 10 D) ($8.00 - $5.10 ) × 10 E) None of the above answers is correct because more information is needed.
Goods A and B are complementary goods. A decrease in price of good A has occurred. In the market for good B, this will lead to
A) an increase in price and a decrease in quantity. B) an increase in price and an increase in quantity. C) a decrease in price and a decrease in quantity. D) a decrease in price and an increase in quantity.
If quantity demanded decreased by 3 units at each price, you would conclude that
A. demand increased.
B. demand decreased.
C. supply increased.
D. supply decreased.