In a typical year, new small firms create ________ jobs
A) 250,000
B) 1.1 million
C) 1.8 million
D) 3.3 million
Answer: D
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Why do economists care about aggregate expenditures?
What will be an ideal response?
Which of the following statements is the MOST accurate? The law of one price states
A) in competitive markets free of transportation costs and official barriers to trade, identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency. B) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in the same country must sell for the same price when their prices are expressed in terms of the same currency. C) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in different countries must sell for the same price. D) identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency. E) in competitive markets free of official barrier to trade, identical goods are sold at the same price regardless of transportation costs.
The U.S. has the biggest national economy in the world solely because of the U.S. population
a. True b. False Indicate whether the statement is true or false
Which of the following is a distinguishing feature of laissez-faire capitalism?
A. Public ownership of all capital. B. Central planning. C. Minimal government intervention. D. A circular flow of goods, resources, and money.