Today, the earth has ________ of all of the species that have ever lived
A) less than 1 percent
B) about 50 percent
C) about 99 percent
D) 100 percent
Answer: A
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Refer to the figure above. What is the change in total revenue due to a price reduction from $6 to $4?
A) The total revenue increases by $300. B) The total revenue decreases by $600. C) The total revenue increases by $200. D) The total revenue increases by $600.
Which of the following is positively related to income?
a. consumption b. investment c. government expenditures d. all of the above
Prior to the Great Depression, classical economists believed that a recessionary downturn would be reversed by:
A. higher wages and prices. B. lower wages and prices. C. an expansionary monetary policy on the part of the Federal Reserve System. D. an increase in government spending that would stimulate aggregate demand.
Externalities could be eliminated from society if it were not for the existence of
A) conflicting interests. B) government. C) private property. D) selfishness E) transaction costs.