In the United States from 1981 to 2013, deaths from which of the following increased?
A) cancer B) kidney disease C) strokes D) heart attacks
B
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When aggregate planned expenditure exceeds real GDP,
A) an unplanned increase in inventories occurs. B) real GDP remains at its equilibrium level. C) firms decrease production. D) an unplanned decrease in inventories occurs. E) real GDP decreases.
Refer to Figure 5-1. The efficient equilibrium price is
A) $60. B) $50. C) $40. D) < $40.
When marginal cost exceeds the average variable cost, average variable cost must be increasing
a. True b. False Indicate whether the statement is true or false
In economics, transaction costs refer to the
a. time, effort, and other resources needed to search out and negotiate an exchange. b. dollar cost or price of the item traded. c. cost an economy suffers when it allows specialization according to comparative advantage. d. amount by which the price of an item increases due to the presence of a middleman.