Did economic output start growing faster than population from the beginning of the human inhabitation of the earth?
What will be an ideal response?
No, rapid and sustained economic growth is a modern phenomenon. correct
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Value added is equal to the value of a firm's production minus
A) all of its costs of production. B) labor costs. C) investment expenditures. D) intermediate goods used in production.
The merger of two community hospitals located in the same geographic market is called
a. vertical integration. b. horizontal integration. c. a leveraged buyout. d. a conglomerate merger. e. a real shame since one of the hospitals will likely close.
At a low wage rate,
a. there is no substitution effect b. there is no income effect c. the substitution effect usually outweighs the income effect d. the income effect usually outweighs the substitution effect e. the disutility of market work is usually high
If the government set a price $24, there would be a price ___________, that would cause a ___________ of ______ units.
A. floor; shortage; 10
B. floor; surplus; 10
C. ceiling; shortage; 10
D. ceiling; surplus; 10