When it comes to basic commodities, the United States is a net exporter of oil and metals and a net importer of farm crops
a. True
b. False
B
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The addition to total output resulting from using one more unit of a productive resource is the
a. average product. b. marginal input. c. total product. d. marginal product.
As the manager of good A, which of the following would be of greatest concern (based on the regression results above)?
A) None of the factors below would be of concern. B) an impending recession C) pressure on you by your salespersons to lower the price so that they can boost their sales D) a price reduction by the makers of good B
By using all available resources and technology the economy will:
A. Shift aggregate supply to the right. B. Shift the production possibilities curve to the right. C. Experience long-run economic growth. D. Produce at a point on the production possibilities curve.
In a capitalist market economy, the decision to save is made by the same people who make the major investment decisions.
Answer the following statement true (T) or false (F)