As an economy grows and develops, the police powers of the government with respect to controlling, regulating and inspecting businesses and their output become increasingly more costly to uphold and protect
Indicate whether the statement is true or false
True
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Use the following two statements to answer this question: I. The price elasticity of demand is constant along the entire length of a linear demand curve. II
The price elasticity of demand is the special name that economists give to the slope of a demand curve. A) I and II are true. B) I is true, and II is false. C) I is false, and II is true. D) I and II are false.
Which of the following is true?
A. A stockholder owns part of the corporation. B. A stockholder has loaned money to the corporation. C. A stockholder is owed money by the corporation. D. A stockholder must be consulted on all major decisions.
An economy where private individuals guided by the invisible hand make decisions is known as a:
A. market economy. B. centrally planned economy. C. socialist economy. D. barter economy.
In an open economy, net exports will be equal to which of the following?
A) X - IM/? B) T - G C) DD D) Z E) S - I