________ predicts that real GDP per person can grow indefinitely
A) New growth theory
B) Classical growth theory
C) Profit growth theory
D) Neoclassical growth theory
A
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With perfect price discrimination, the marginal revenue curve
A) is above the demand curve. B) is equal to the demand curve. C) is horizontal. D) is below the demand curve.
Two goods are Hicks (net) substitutes if a rise in the price of one causes a(n):
a. decline in the quantity demanded of the other holding nominal income constant. b. increase in the quantity demanded of the other holding nominal income constant. c. decline in the quantity demanded of the other holding utility constant. d. increase in the quantity demanded of the other holding utility constant.
The increased labor force participation of married women in the United States is most often explained by
a. declining productivity in agricultural production b. a rise in average household size c. increased education and an increased demand for labor d. the decreased opportunity cost of working in the home e. declining productivity in household production
Opportunity cost measures the trade-off between two goods that each producer faces
a. True b. False Indicate whether the statement is true or false