High economic growth of a country refers to
Answer: a large increase in per capita real Gross Domestic Product? (GDP).
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Which of the following pairs of goods has a negative cross-price elasticity?
A) Pens and paper notebooks B) Nokia and Samsung cell phones C) Compact Disks (CDs) and electronic music files D) Motorcycles and typewriters
Refer to Figure 4-1. If the market price is $3.00, what is the maximum number of burritos that Arnold will buy?
A) 0 B) 2 C) 3 D) 4
If a series of severe storms in the Atlantic Ocean drastically significantly disrupted the transatlantic slave trade, which would most accurately describe the market for indentured servants in colonial America?
a. The price and quantity of servants would increase. b. The price and quantity of servants would decrease. c. The price of servants would increase and the quantity of servants would decrease. d. The price of servants would decrease and the quantity of servants would increase.
Scarcity means that: a. human desires are limited
b. resources are insufficient to satisfy all human desires. c. choices are unnecessary. d. all but the very wealthy must face choices.