An understanding of the best ways to produce goods and services is called
a. human capital.
b. physical capital.
c. technology.
d. productivity.
c
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The U.S. economy favors greater government intervention in the market than socialist economy would favor.
Answer the following statement(s) true (T) or false (F)
On a graph we draw indifference curves to illustrate Steven's preferences for steak and broccoli. If two of Steven's indifference curves cross, then it cannot be the case that Steven
a. regards steak and broccoli as complements. b. spends more of his income on steak than on broccoli. c. likes steak and likes broccoli. d. always prefers more steak to less steak and more broccoli to less broccoli.
Refer to the following table showing a monopolist's demand schedule: 
If price falls from $20 to $10, then
A. MR = -$30, and demand is inelastic. B. MR = -$10, and demand is inelastic. C. MR = $30, and demand is elastic. D. MR = $10, and demand is elastic. E. none of the above
An increase in which of the following variables will cause an increase in the user cost of capital?
A) rt B) ?t C) ?et D) all of the above E) none of the above