The centerpiece of classical economics is _____.
Fill in the blank(s) with the appropriate word(s).
Say's law
Economics
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Physical capital refers to stocks and bonds
Indicate whether the statement is true or false
Economics
Which of the following would help eliminate the trade deficit?
A. Reduced reservation wages B. Lower tariffs C. Expansionary fiscal policy D. A rise in the exchange rate
Economics
The returns to scale in the production function Y = K0.5 L0.5 are:
A. decreasing. B. constant. C. increasing. D. subject to wide fluctuations.
Economics
Assume that there was a 5 percent increase in the price of all goods in 2015; if the base year is 2014, then the price index in 2015 will be
A. 105. B. 1100. C. 95. D. 110.
Economics