Which of the following would be considered a market?
a. political debate
b. charity gala
c. church service
d. garage sale
d. garage sale
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Which one of the following is TRUE?
A) New growth theory suggests that there is no connection between the level of education in a country and its rate of economic growth. B) New growth theory suggests that education benefits only those people who receive it, and not the population as a whole. C) Investments in secondary education produce gains in the form of economic growth. D) Secondary education does not boost economic growth in developing nations, because so much of the workforce remains in agriculture.
If the CPI decreases from one year to the next, then the inflation rate is
A) negative. B) 0. C) below 100. D) above 100. E) positive.
Big Al’s Burger Emporium lowered the price of its burgers from $8 to $6. The firm saw sales of burger increase from 1,200 per week to 2,000 per week. This implies that the price elasticity (dropping any negative signs) is
A. 0.29 B. 0.57 C. 1.75 D. 0.50
Under a negative income tax program, the higher the income earned in the marketplace, the higher will be the family's after-tax income
a. True b. False Indicate whether the statement is true or false