Under the system of "township planning"
a. no one could own land that had not been previously surveyed.
b. settlers chose their own plots of land, under the supervision of a county surveyor.
c. legal descriptions of property made reference to permanent natural objects.
d. gaps between unsettled and settled land were encouraged.
a. no one could own land that had not been previously surveyed.
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If high incomes inspire more saving than low incomes ________
A) the average propensity to consume falls as income rises B) the marginal propensity to consume rises as income rises C) autonomous consumption falls as income rises D) the average propensity to consume rises as wealth rises
Disadvantages of experiments include the fact that:
A. decisions made in the laboratory replicate those made in the real world. B. laboratory experiments introduce influences on decision making that are difficult to measure or control. C. the number of subjects is typically so large, that it is difficult to apply the results to economic behavior in the population. D. decisions made in the laboratory replicate those made in the real world and the number of subjects is typically so large, that it is difficult to apply the results to economic behavior in the population.
Supporters of globalization believe that free trade and international investment result in all countries raising their living standards
a. True b. False Indicate whether the statement is true or false
What would happen if a perfectly competitive firm decided to raise its prices by 1%?
a. The firm would increase revenues by 1%. b. The firm would increase market share by 1%. c. The firm would lose all of its market to its competitors. d. The firm would put all of its competitors out of business.