Refer to Scenario 17.1. An employer who only wants to hire individuals who find learning less costly can do so by choosing y* to be anywhere between
A) 7 and 14.
B) 8 and 13 1/3.
C) 10 and 16.
D) 13 1/3 and 20.
E) 14 and 20.
B
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Economists classify energy and water as part of which factor of production?
A) land B) labor C) capital D) entrepreneurship E) land if undeveloped and capital if developed
The federal government relies on ________ to limit inequality
A) regressive taxes B) proportional taxes C) progressive taxes D) marginal taxes
The income velocity of money is the absolute number of times, on average, that
A) people purchase goods and services during a year. B) each monetary unit is spent on final goods and services. C) each unit of real GDP is produced by business firms. D) each one-unit increase in the price level occurs.
Trade between nations A and B:
a. leaves the production possibilities of nation A unchanged. b. leaves the production possibilities of nation B unchanged. c. increases the consumption possibilities of both nations. d. All of these are true.