Over the period 1900-2014, Brazil's rate of economic growth exceeded that of China
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is an example of consumption?
a. The City of Milwaukee pays a construction company to repair an expressway. b. Ralf buys a lawnmower to use for his landscaping business. c. Rayana pays a landscaper to design a garden for her backyard. d. The Girder Construction Co. buys a crane for a skyscraper project.
A schedule which shows the various amounts of a product producers are willing and able to produce at each price in a series of possible prices during a specified period of time is called:
a. Quantity supplied b. Supply c. Quantity demanded d. Demand
Legalizing all forms of illegal activities
A) reduces GDP and reduces the size of the underground economy. B) reduces GDP and increases the size of the underground economy. C) increases GDP and reduces the size of the underground economy. D) increases GDP and increases the size of the underground economy.
If the value that people, on average, receive from a common property exceeds the marginal cost of its use, then
a. more people will use the common property. b. social gain is as large as possible. c. the common property creates zero economic rent. d. demand for the common property will fall.