The energy source most often used by the earliest factories was
(a) animal power.
(b) wind power.
(c) water power.
(d) steam engines.
(a)
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If Sam is producing at a point on his production possibilities frontier, then he
A) cannot produce any more of either good. B) can produce more of one good only by producing less of the other. C) will be unable to gain from trade. D) is not subject to scarcity.
If you real disposable income goes up by $1000 per week, and your real consumption spending goes up by $800 per week, you have an MPS of
A) 0.2. B) 0.8. C) 1.2. D) 1.0.
Refer to the above table. Suppose the price of Y rises from $18 to $20. What is the cross price elasticity of demand between X and Y?
A) -2 B) -1 C) 0 D) +1
The American Recovery and Reinvestment Act passed in February 2009 was the largest measure of discretionary fiscal policy in US history
a. True b. False Indicate whether the statement is true or false