A city's decision to limit smoking in public areas is an example of
A. The invisible hand at work.
B. The market mechanism at work.
C. Government intervention.
D. Market success.
Answer: C
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How are the fundamental economic decisions determined in Cuba?
A) The United Nations decides because Cuba is a developing economy. B) These decisions are made by the country's elders who have had much experience in answering these questions. C) The government decides because Cuba is a centrally planned economy. D) Individuals, firms, and the government interact in a market to make these economic decisions.
The marginal propensity to consume (MPC) is computed as the change in:
a. consumption divided by the change in savings. b. consumption divided by the change in disposable personal income. c. consumption divided by the change in GDP. d. None of these.
Halvorson Construction has an investment project that would cost $150,000 today and yield a one-time payoff of $167,000 in three years. What is the highest interest rate at which Halvorson would find this project profitable?
a. 7% b. 6% c. 5% d. It is not profitable at any of these interest rates.
Henry Leland
A. was the first automobile producer to use the movable assembly line. B. was the first automobile producer to manufacture a standardized engine with interchangeable parts. C. sold millions of cars at a small unit of profit that allowed his company to dominate the industry. D. all of the choices are true.