There is no free lunch means
A) each action has a cost.
B) each choice involves a free item.
C) each decision has elements of free goods in it.
D) if you get your lunch paid for by someone else, it is free, but if you have to pay, it is not free.
E) if you are invited to lunch by someone, you are not expected to pay for it.
A
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Which supports the economist's claim that buyers don't compete against sellers?
A) Diners would rather have more restaurants to choose among. B) Music buyers prefer having access to internet music stores compared to only the local music shop in town. C) Car buyers prefer several dealerships in the region compared to only one. D) Homebuyers prefer a larger selection of homes to a smaller one. E) All of the above.
Small economies like Sweden tend to have which of the following ratios of exports and imports to GDP?
a. lower b. higher c. balanced d. either lower or higher
If the minimum points of all the possible short-run average total cost curves become successively lower as quantity of output increases, then:
A. the firm should try to produce less output. B. total variable costs are constant along the LRAC curve. C. there are economies of scale. D. when output is doubled, total costs are doubled.
Briefly explain what effect a reduction in the saving rate will have on growth
What will be an ideal response?