________ is/are the payment for the factor of production ________
A) Rent; capital B) Wages; capital
C) Interest; labor D) Profit; entrepreneurship
D
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Which of the following statements is true of creative destruction?
A) Creative destruction is encouraged in economies with extractive institutions. B) Creative destruction is a phenomenon that was mostly prevalent before the year 1800. C) Creative destruction is generally bad for an economy. D) Creative destruction creates losses for some economic agents and benefits for others.
A new car in the dealer's showroom had a sticker price of $35,900. Sally liked the car but decided she would pay no more than $32,000 for it, otherwise she would do without it. After haggling with the dealer, she purchased the car for $31,500
Did she gain any consumers surplus? If so, how much? If not, why not?
Most recessions in the United States since World War II have begun with a
A) rise in oil prices. B) stock market crash. C) a major devaluation of the dollar. D) decline in residential construction.
Price-fixing agreements among competing firms are a violation of the Clayton Antitrust Act
a. True b. False