Division of labor
A) increases the amount of capital in the economy.
B) leads to an increase in the amount of output in the economy.
C) makes economic goods possible.
D) is not possible for service goods.
Answer: B
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When a firm builds a new factory, this is an example of an investment in:
A. human capital. B. physical capital. C. research and development. D. the market.
The allocation of consumer income that balances the ratio of marginal utility to the price of goods purchased is known as ______.
a. the anchor b. consumer equilibrium c. the endowment effect d. marginal utility
Toothpaste and toothbrushes are substitute goods.
Answer the following statement true (T) or false (F)
Easy monetary policy ________ interest rates which ________ the demand for a currency and ________ the market equilibrium value of the exchange rate.
A. increases; increases; increases B. increases; increases; decreases C. decreases; decreases; decreases D. increases; decreases; increases