If you can't prevent people from consuming something, then:
A. they have little reason to pay for using it.
B. the good is not excludable.
C. individuals will likely use it for free.
D. All of these statements are true.
D. All of these statements are true.
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According to the neoclassical growth theory
A) increases in labor productivity are only temporary. B) technological change depends on people's choices. C) forces other than GDP growth determine population growth. D) higher saving rates generate permanently faster growth in GDP per person.
An increase in aggregate demand will tend to cause which of the following?
A) a deflationary gap B) a recessionary gap C) cost-push inflation D) none of the above
In an administrative command economy, a price below equilibrium
a. means we can buy cheap goods freely b. creates opportunities for corruption c. does not matter at all d. both a and b are correct e. none of the above
What is purchasing power parity? Why might it not hold?
What will be an ideal response?