How did people like Mark Zuckerberg of Facebook and the late Steve Jobs of Apple become so rich?
A) by obtaining large subsidies from powerful politicians
B) mostly by stealing from those who were less fortunate
C) by providing highly valued goods and services to consumers at attractive prices
D) by acquiring more years of schooling than almost anyone else
C) by providing highly valued goods and services to consumers at attractive prices
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The early U.S. canals and railroads were built by private enterprise without the aid of governments
Indicate whether the statement is true or false
For what values of a and b will the following production function exhibit increasing, decreasing or constant returns to scale? q = (La + Ka)1/b
What will be an ideal response?
An increase in the expected future price of a good will cause the current demand for the good to:
a. decrease, which is a shift to the left of the demand curve. b. decrease, which is a shift to the right of the demand curve. c. increase, which is a shift to the left of the demand curve. d. increase, which is a shift to the right of the demand curve.
When considering policy, measures of access to credit can often be:
A. unimportant to the economy. B. as important as the measure of money. C. included in the measures of money. D. measures of individual assets.