In a given community, if the government builds more freeways, then the supply curve for freeway space shifts rightward and the demand curve for freeway space shifts leftward
Indicate whether the statement is true or false
False
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A monopolist faces a downward sloping demand curve that is equal to which of the following?
a. The prevailing market price. b. The market demand curve. c. Its marginal cost curve. d. Marginal revenue.
When the U.S. government purchases capital equipment, such as a computer, these expenditures are part of investment in GDP
a. True b. False Indicate whether the statement is true or false
When studying changes in the economy over time, economists want a measure of the total quantity of goods and services the economy is producing that is not affected by changes in the prices of those goods and services. In other words, economists want to study
a. nominal GDP. b. real GDP. c. the GDP deflator. d. GNP.
Today, the earth has ________ of all of the species that have ever lived.
A. less than 1 percent B. about 50 percent C. about 99 percent D. 100 percent