Although one theory of economic development holds that a sizable natural resource base is the key to a? nation's development, this fails to account for the importance of the human? element: The _______ _________ must be capable of using a? country's natural resources.
Fill in the blank(s) with the appropriate word(s).
working population
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In 2014, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future
Consequently, in the current market for peanut butter there was ________ which resulted in a ________ in the price of peanut butter and ________ in the quantity of peanut butter. A) a decrease in supply of peanut butter and an increase in demand for peanut butter; rise; an increase, decrease or possibly no change B) a decrease in supply of peanut butter and a decrease in demand for peanut butter; rise, fall, or possibly no change; a decrease C) an increase in supply of peanut butter and a decrease in demand for peanut butter; fall; an increase, decrease or possibly no change D) a decrease in supply of peanut butter and an increase in demand for peanut butter; fall; an increase, decrease or possibly no change
Which of the following economists is/are considered the leader(s) in the theory of market behavior?
(a) Alfred Marshall (b) Adam Smith (c) David Ricardo (d) All of the above
What are the functions for MC and AC if TC = 100q + 100 ? Are the returns to scale increasing, decreasing, or constant?
What will be an ideal response?
Exhibit 5-7 GDP data (billions of dollars) Personal consumption expenditures$5,207 Interest425 Corporate profits735 Government spending1,406 Depreciation830 Rental income146 Gross private domestic investment1,116 Compensation of employees4,426 Exports870 Imports965 Indirect business taxes553 Proprietors' income520 Personal taxes886 Social Security taxes432 Transfer payments376 In Exhibit 5-7, disposable personal income (DI) is:
A. $5,127 billion. B. $5,608 billion. C. $6,254 billion. D. $6,495 billion.