The demand for labor is considered a derived demand since it depends on
A. the supply of labor.
B. competitive markets.
C. the consumer demand for the output produced.
D. the market for capital.
Answer: C
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A. current; current B. base; current C. base; index D. current; base
In economics, investment is defined as
A) disposable income plus consumption. B) disposable income minus consumption. C) the spending by businesses on capital goods and inventories. D) the spending by households on human capital and durable goods.
The Navigation Acts (1651 and later amendments) were intended to promote shipping and international commerce
Indicate whether the statement is true or false
Which nation achieved the ideal communist society as described by Marx?
a. Castro's Cuba b. Stalin's Soviet Union c. No nation has achieved Marx's vision of communist society. d. Mao's China