While the Economic Freedom Index demonstrates a strong ________ correlation between economic freedom and per capita GDP, the economic way of thinking provides the ________
A) negative; explanation
B) positive; explanation
C) negative; data
D) positive; data
B
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"The law of diminishing returns is the same as the decreasing returns to scale." Do you agree? Explain
What will be an ideal response?
What happens when a firm encounters diminishing returns? What causes diminishing returns?
What will be an ideal response?
The final consumer demand for chicken (a normal good) in China will shift if:
a. Consumer income decreases b. If fewer consumers are present in the market c. If the price of pork decreases d. All of the above e. If either a or b occurs, but not c
In 2016, the most profit from the musical Hamilton went to
A) the musical's star and creator, Lin-Manuel Miranda. B) the musical's producers. C) the owners of the Richard Rodgers Theater where the musical is performed. D) scalpers.