Using the midpoint method for calculating the price elasticity of demand, you get the same elasticity of demand between two points, whether you are moving up the demand curve or down it
a. True
b. False
Indicate whether the statement is true or false
True
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If the balance on the current account in the United States is $750 billion, which of the following is most likely to be true?
A) The balance on the financial account is negative. B) The trade balance is negative. C) The balance on the capital account is positive. D) Net foreign investment is negative.
Inflation was a problem during the Great Depression
Indicate whether the statement is true or false
An increase in human capital
a. is of secondary importance to economic growth compared to physical capital. b. causes the production function to shift downward and become flatter. c. causes the production function to shift upward. d. causes the production function to shift downward. e. can be separated from labor.
The Herfindahl index and the concentration ratio fail to give a complete picture of an economy's competitiveness because:
A. they measure each firm's share of sales rather than each firm's share of profits. B. they don't account for mergers within an industry. C. many corporations are conglomerates, spanning a variety of different industries. D. they are based on market share, not market size.