A central theme of the new growth theory is that
A) firms don't really experience profit.
B) humans can work harder than previously thought.
C) the government is more efficient than private markets.
D) the economy doesn't experience diminishing returns.
E) firms don't experience diminishing returns.
D
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Between 1790 and 1860, wholesale prices charged by producers of commodities
(a) grew steadily over the period. (b) declined steadily. (c) exhibited wild variations but increased, on average. (d) exhibited wild variations but declined, on average.
A contract may remain incomplete because the expected benefits of greater completeness do not cover the costs of drafting it
Indicate whether the statement is true or false
Suppose there are 65 million employed persons, 5 million unemployed persons, and 35 million persons not in the labor force. What does the civilian noninstitutional population equal?
A) 70 million B) 110 million C) 65 million D) 105 million
Refer to the above table. The price of B decreases from $18 to $15. What is the cross price elasticity of demand between B and A?
A. -1.0 B. -0.73 C. +1.83 D. +1.38