Rank-order the following three gifts in terms of potentially providing the highest utility to the lowest: 1 ) A new video game; 2 ) A gift card to a video game store; 3 ) Cash
A) 1, 2, 3
B) 2, 3, 1
C) 3, 2, 1
D) 1, 3, 2
C
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Which of the following is NOT an important factor affecting economic growth?
A) the rate of growth of capital B) the rate of saving C) the rate of growth in labor productivity D) the growth of leisure
In the 1990s, Congress considered an agriculture bill that would gradually reduce price supports for many agricultural products. If the bill were to be approved, what would most likely happen to the number of families employed in agriculture?
A. It would decrease, because agricultural prices would fall. B. It would decrease, because agricultural prices would rise. C. It would increase, because agricultural prices would fall. D. It would increase, because agricultural prices would rise.
When households and businesses interact in resource markets money
a. is not exchanged b. is flowing toward businesses c. is flowing toward households d. is not used at all e. is flowing to both businesses and households
If the demand for automobiles increases, which of the following would also experience an increase in demand?
a. automobile workers b. skateboards c. bicycle manufacturers d. ice cream e. financial analysts