With respect to diffusion of responsibility, the diffusion effect is always greater than the size effect
Indicate whether the statement is true or false
FALSE
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Refer to the above figure. The top two arrows of the figure refer to the product markets. The bottom arrows refer to the factor markets. Which arrow represents the final consumer goods and services?
A) Arrow A B) Arrow B C) Arrow C D) Arrow D
In an effort to serve consumers who have become more health conscious, a number of firms have begun developing small electronic devices which allow people to monitor various health conditions
These firms are reacting to which of the three key economic ideas? A) Optimal decisions are made at the margin. B) Firms attempt to maximize revenues. C) People respond to economic incentives. D) People are rational.
Marginal profit is the slope of the total profit curve
a. True b. False Indicate whether the statement is true or false
If the dollar price of the English pound goes from $1.50 to $1.20, the dollar has
a. appreciated, and Americans will find English goods cheaper. b. appreciated, and Americans will find English goods more expensive. c. depreciated, and Americans will find English goods cheaper. d. depreciated, and Americans will find English goods more expensive.