Investment spending accounts for nearly 60 percent of U.S. GDP.
Answer the following statement true (T) or false (F)
False
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Which of the following are considered money? i. electronic checks ii. paper checks iii. the deposit transferred using an e-check
A) i, ii and iii B) i and iii C) i and ii D) iii only E) ii and iii
Suppose capital and labor are perfect substitutes resulting in a production function of q = K + L. That is, the isoquants are straight lines with a slope of -1
Derive the long-run total cost function TC = C(q) when the wage rate is w and the rental rate on capital is r.
Natural monopolies have all of the following characteristics except
a. relatively high fixed cost b. relatively low average variable cost c. low levels of production d. difficulty for new firms to enter e. only one firm can produce profitably
What is the term for a measure of happiness or satisfaction a person receives from his or her circumstances?