If price is below the long-run competitive equilibrium level, there will be
A. Exit of firms from the market.
B. Greater demand.
C. Greater output.
D. Positive economic profits.
Answer: A
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If the institutions in an economy change from being extractive to inclusive, then in the economy:
A) geographical conditions will improve. B) returns to education will decrease. C) returns to entrepreneurship will increase. D) geographical conditions will deteriorate.
Contrary to popular belief, the richest families in the United States became slightly poorer in recent years
a. True b. False Indicate whether the statement is true or false
In which of these years was there very high inflation and a recession?
A. 1937 B. 1980 C. 1990 D. 2001
The ranking of the size of tax revenues received by the federal government (from highest to lowest) would be corporate taxes, income taxes, and Social Security payroll taxes.
Answer the following statement true (T) or false (F)