Over the last 100 years or so, the U.S. economy has grown annually at an average rate of:
A. 1 %.
B. 2 %.
C. 3 %.
D. 4 %.
B. 2 %.
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In a society where government mandates that everyone shares the product of one's hard work with everyone else, people will tend to work harder than they would if they could keep the full product of their work
Indicate whether the statement is true or false
What are the four categories of aggregate expenditure?
What will be an ideal response?
The five forces model is a framework
a. For increasing buyer power in the market b. For improving competition in the industry c. For analyzing the attractiveness of an industry d. For increasing supplier power in the market
"As consumption of a good increases, the extra satisfaction received from consuming an additional unit of the good decreases." This statement is known as the law of:
a. demand. b. increasing costs. c. diminishing marginal utility. d. diminishing marginal returns. e. total utility.