At the end of World War I, the ___________ outlined in broad terms the territorial adjustments that should occur in Europe, the extent of the reparations the losing nations owed, and the general association of nations that would guarantee each nation's sovereignty in the future
a. Treaty of Versailles.
b. The Fourteen Points.
c. The Economic Consequences of Peace.
d. The United Nations.
a. Treaty of Versailles
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________ can change a resource's marginal product
a. A change in demand for the final product b. A change in the supply of the final product c. A change in the technology used in production d. A change in the price of the final product
Price leadership
A. Results in inflexible prices. B. Results in predatory pricing. C. Accounts for kinked oligopoly behavior. D. Helps achieve monopoly profit for the market.
The figure above shows the market for annual influenza immunizations the United States. The market equilibrium with no government intervention is ________ because health care generates ________
A) efficient; positive external benefits B) inefficient; positive external benefits C) inefficient; positive external costs D) efficient; positive external costs E) inefficient; public goods
Average productivity can be measured as total output divided by total units of labor
a. True b. False Indicate whether the statement is true or false