If Wrex can produce more math problems per hour and more book reports per hour than Maxine can, then Wrex cannot gain from trading math problems and book reports with Maxine

a. True
b. False
Indicate whether the statement is true or false


False

Economics

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Goods and services are produced by using four factors of production:

A) land, labor, capital, and entrepreneurshi

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Moving down along an indifference curve: a. total utility remains constant

b. total utility decreases. c. total utility increases. d. total utility first decreases and then increases.

Economics

Define the following terms and explain their importance to the study of economics

a. demand b. surplus c. equilibrium d. law of supply and demand e. quantity demanded

Economics

The sales tax is generally considered to be a regressive tax.

Answer the following statement true (T) or false (F)

Economics