How is the market for capital affected by higher prices?
a. More owners will supply capital.
b. Fewer owners will supply capital.
c. The supply will remain the same.
d. The price will increase demand.
a. More owners will supply capital.
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Which of the following does not constitute a household consumption item?
a. A pair of jeans b. A bottle of Beck's beer c. A haircut d. A steam turbine electric generator e. A packet of breakfast cereal
Suppose the world economy is divided into two halves. In Region A, all economies experience a decrease in desired saving, while desired saving is unchanged in Region B
If there is open trade and perfect capital mobility across the two regions, which of the following is true? A) Actual saving in Region B has increased. B) Actual investment in Region A has increased. C) Region A's imports from Region B have decreased. D) all of the above E) none of the above
Second-degree price discrimination is the practice of charging
A) the reservation price to each customer. B) different prices for different quantity blocks of the same good or service. C) different groups of customers different prices for the same products. D) each customer the maximum price that he or she is willing to pay.
Scarcity would cease to exist as an economic problem if: a. we learned to cooperate and not compete with each other
b. there were new discoveries of an abundance of natural resources. c. output per worker increased. d. none of the above.