If saving exceeds investment, then the level of GDP will
a. increase.
b. remain constant.
c. decrease.
d. rise above potential GDP.
c
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In the above table, the technique that is not technologically efficient is
A) A. B) B. C) C. D) D.
All of the following government actions create barriers to entry EXCEPT
A) limiting the number of airlines that may operate at an airport. B) granting a patent to a drug company. C) requiring a pizza parlor to get a business license. D) giving a power company exclusive use of the city's transmission lines.
James used $200,000 from his savings account that paid an annual interest of 10% to purchase a hardware store. After one year, James sold the business for 300,000 . His economic profit is:
a. $300,000 b. $100,000 c. $80,000 d. $20,000
Marginal utility is measured by the maximum amount of money a consumer is willing to pay for one more unit of a commodity
a. True b. False Indicate whether the statement is true or false