The lure of ____ directs resources to optimally efficient activities and time periods
a. future consumption
b. present consumption
c. market share growth
d. profits
d
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The current policy on kidney donation effectively sets a price ceiling of zero
a. True b. False Indicate whether the statement is true or false
On average professors of finance earn more than professors of economics. Other things the same, what does this imply about the supply of each type of professor?
Assume both the demand for beef and the supply of beef decrease. Which of the following outcomes is certain to occur?
A. The equilibrium quantity of beef will fall. B. The equilibrium price of beef will fall. C. The equilibrium quantity of beef will rise. D. The equilibrium price of beef will rise.
Classical economic theory predicted that in the long run the economy would experience:
A. below full unemployment. B. rising rate of inflation. C. full employment. D. idle factors of production.