Which of the following is not a coincident indicator?
A. personal income minus transfer payments
B. industrial production
C. manufacturing and trade sales
D. average workweek
Answer: D
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Why do economists abstract, and is it appropriate?
What will be an ideal response?
In a market with positive externalities
A) the efficient level of production is less than what competition will obtain. B) the efficient level of production is equal to what competition will obtain. C) the efficient level of production is more than what competition will obtain. D) there cannot be an efficient level of production.
Corruption reduces growth most directly because governments invest in projects with low productivity
a. True b. False Indicate whether the statement is true or false
For most firms in the economy, the largest part of factor costs is the cost of
A. labor. B. capital. C. property and machinery. D. land and natural resources.