The reason that some people make more money than others is explained mainly by
A. training and education.
B. intelligence.
C. inborn skills or physical attributes.
D. all of the choices/statements are true.
D. all of the choices/statements are true.
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The federal budget process begins when federal agencies submit their budget requests to the:
a. Treasury Department. b. Council of Economic Advisors (CEA). c. Office of Management and Budget (OMB). d. Congressional Budget Office (CBO).
If the desired amount demanded is greater than the desired amount supplied, then:
a. Business inventories could be rising or falling, depending on how they are valued. b. Business inventories are falling. c. Increases in residential construction are usually the reason, because they are measured at the end of each period. d. It is impossible for demand to be greater than supply, because supply limits demand. e. None are correct.
Which oligopoly model leads to price rigidity? Graphically show why.
What will be an ideal response?
According to the following figure, what could have caused a consumer's budget line to shift from ML to MN?
A. a decrease in the price of Y B. a decrease in the price of X C. an increase in the price of Y D. an increase in the price of X E. cannot determine without more information