New growth theory asserts that ________ will lead us to greater productivity and economic growth
A) nothing
B) new machinery
C) leisure time
D) unlimited wants
E) government regulation
D
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An argument against increasing centralization in elementary and secondary education is _____
a. that it is anti-egalitarian b. that there are fewer administrators to oversee extracurricular programs c. that it results in less direct accountability to students and parents d. that socialization is a problem in large school districts
If a firm buys a specialized metal stamping machine that will last 4 years for $125,000 and cannot resell it, the opportunity cost is
A) $0. B) $31,250. C) $125,000. D) $93,750.
Javier goes to an all-you-can-eat buffet at a Chinese restaurant and consumes three plates of food. Which of the following explains why the third plate of food does not provide as much satisfaction as the second plate?
A. The law of expanding externalities. B. The rule of total utility. C. The law of supply. D. The law of diminishing marginal utility.
When supply is fixed or the product is unique, then price is
A. government determined. B. demand determined. C. supply determined. D. indeterminate.