An act of production, as economists use the term, is demonstrated by which of the following?
A. An individual buys municipal bonds to avoid taxes.
B. A firm buys a pre-existing building in order to expand its operations.
C. A worker places money in a pension fund.
D. A local nonprofessional theater company performs a play.
Answer: D
You might also like to view...
The key prediction of the Solow model adapted to include technological change ________ been born out, i.e. with a few exceptions convergence ________ a reality
A) has not, is not B) has not, is C) has, is not D) has, is
Since the 1970s, the share of income in the top fifth of households
A. has steadily increased. B. has steadily decreased. C. has remained relatively constant. D. dipped in the 1980s but increased since.
Suppose the current account of a country is initially in balance. A new transaction occurs so that the current account is now in surplus. Official reserve balance is maintained before and after the transaction occurs. From this, we know that
A) the balance of trade is now in surplus. B) the balance of goods and services is now in surplus. C) the financial account is now in deficit. D) the government must make official reserve transactions.
Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. If pizza and burritos are substitutes, a decrease in the price of burritos will cause a movement from Point B on demand curve D2 to
A. Point A on demand curve D2. B. demand curve D1. C. Point C on demand curve D2. D. demand curve D3.