The major argument for economic growth is that it:
What will be an ideal response?
leads to a higher standard of living
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If the local slaughterhouse gives off an unpleasant stench, then the equilibrium quantity of meat will be ________ the quantity that maximizes total economic surplus.
A. lower than B. higher than C. equal to D. more equitable
Some economists believe that the behavior of unemployment in Europe and in the United States during the 1980s and 1990s
A) was the same because both markets experienced adverse labor market shocks. B) differed because the real wage in Europe was rigid. C) was the same because the real wage in Europe and the United States moved together. D) differed because the United States experienced adverse labor market shocks but Europe did not.
In all areas but property, the measurable costs of the Civil War (1861–1865) were highest in the North
Indicate whether the statement is true or false
The price of a commodity in terms of another commodity is
A) the law of demand. B) a substitute. C) the money price. D) the relative price.