Which of the following was not a factor that contributed to improved productivity from 1995 to 2009?
A. Surging investment
B. Falling energy prices
C. Advances in information technology
D. Decreased costs for higher education
Answer: D
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The income effect of a price increase for a Giffen good outweighs the substitution effect
Indicate whether the statement is true or false
The result of effective screening and signaling can be:
A. more transactions take place. B. surplus is increased for buyer and/or seller. C. more information is credibly shared. D. All of these statements are true.
The ratio of the percentage change in quantity demanded to the percentage change in income is known as the cross elasticity of demand
a. True b. False Indicate whether the statement is true or false
When average costs of production are falling, average cost:
a. is higher than marginal cost. b. is equal to price. c. is negative. d. is less than marginal cost.