"The Case of ATMs" best illustrates the:
A. law of diminishing marginal utility.
B. the substitutability of resources.
C. idea of derived demand.
D. principle of unintended side-effects.
Answer: B
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Union members earn about the same wage level as nonunion members in the same industry.
Answer the following statement true (T) or false (F)
The aggregate savings in an economy is $1,750 and the GDP of the economy is $55,000. The savings rate in the economy is:
A) 1.8%. B) 3.15%. C) 10%. D) 8.96%.
Is it true that a country needs to have an absolute advantage in the production of a good in order to benefit from trade in that good? Explain
What will be an ideal response?
Supply-side inflation could be caused by which of the following?
A) an increase in aggregate demand B) a decrease in aggregate demand C) an increase in long-run aggregate supply D) a decrease in long-run aggregate supply