When there is a building that is used for production, but no one has clear property rights to it
A) this is known as "dead capital" and causes no production.
B) this is known as "dead capital" and causes efficient production.
C) resources are guided to their best use by "the invisible hand."
D) this is known as "dead capital" and causes inefficient production.
D
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During periods of inflation, which function of money is most severely affected?
A) medium of exchange B) unit of account C) means of payment D) store of value
According to the circular flow model, an increase in spending by businesses on productive resources would cause the income and spending of consumers to increase
Indicate whether the statement is true or false
The investment function implies that current output does not influence investment. Does that make sense?
What will be an ideal response?
Suppose that Melinda goes to the movies 6 times per month when the price is $14 and 4 times per month when the price is $20. What is the price elasticity of Melinda’s demand curve?
a. 0.02 b. 0.2 c. 1.33 d. 10.0