When the supply of a good increases, the quantity supplied at each price is increasing as well
Indicate whether the statement is true or false
TRUE
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If gross investment for a year was $120 billion and net investment was $65 billion, then in that year the country's capital stock ________.
A. increased by $65 billion B. increased by $55 billion C. decreased by $55 billion D. may have either increased or decreased
In perfect competition, a firm’s marginal revenue is the same as the demand curve at high levels of output.
Answer the following statement true (T) or false (F)
Commercial banks act as middlemen between savers and borrowers, therefore they are called _____
a. lenders of the last resort b. financial intermediaries c. banker's banks d. thrift institutions e. profitable institutions
Utils are used by economists to measure the satisfaction a person obtains from consuming a good
Indicate whether the statement is true or false