Economists assume that the goal of consumers is to
A) make themselves as well off as possible. B) do as little work as possible to survive.
C) consume as much as possible. D) spend all their income.
A
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Which of the following is the largest expenditure item of local governments?
A. Education B. Public safety C. Highways D. Welfare
If the number of unemployed workers is 200 million, and the number in the labor force is 500 million, what is the unemployment rate?
A) 0.4% B) 4% C) 14% D) 40%
According to Joseph Schumpeter, economic growth is achieved through
A) a process termed "creative destruction." B) removing the entrepreneur from the production function. C) centralizing economic production. D) focusing only on making old products better rather than inventing new ones.
Refer to Table 14-8. If the firms act out of individual self-interest, which prices will they select?
A) Brawny Juice will select a high price, Power Fuel will select a low price. B) Brawny Juice will select a low price, Power Fuel will select a high price. C) Both firms will select a high price. D) Both firms will select a low price.