In the field of study called political economy, economists make use of insights from the field of psychology
a. True
b. False
Indicate whether the statement is true or false
False
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Economic growth ________
A) is driven by different elements in different economies B) is driven primarily by digital technology C) is driven primarily by labor growth D) cannot be explained using economic models
Refer to the information provided in Figure 9.2 below to answer the question(s) that follow.
Figure 9.2Refer to Figure 9.2. If demand for wheat is D1, then in the long run
A. the firm will exit the industry. B. firms will increase their output so that their average fixed cost per unit falls. C. the firm will increase its price and output. D. new firms will enter the industry, and the current firms will expand production.
________ established the Federal Trade Commission to investigate "…the organization, business conduct, practices, and management" of companies that engage in interstate commerce.
A. Congress B. The Treasury Department C. The Federal Reserve D. The Supreme Court
In input, or factor, markets
A. households demand goods. B. firms supply goods. C. households supply resources. D. consumers purchase products.