Karl Marx's massive work, titled Das Kapital, was published in 1848
a. True
b. False
Indicate whether the statement is true or false
False
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When economists describe "a market," they mean
A. any place where, or mechanism by which, buyers and sellers interact to trade goods, services, or resources. B. any place where stocks and bonds are traded. C. a hypothetical place where the production of goods and services takes place. D. a communication network that allows individuals to keep in touch with each other.
When money prices are used to facilitate comparisons of value, money is said to function as a
A) unit of account. B) medium of exchange. C) store of value. D) payments-system ruler.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point A. The opportunity cost of moving from Point A to Point B is the
A. 30 LCD televisions that must be forgone to produce 60 additional OLED televisions. B. 90 LCD televisions that must be forgone to produce 20 additional OLED televisions. C. 30 LCD televisions that must be forgone to produce 20 additional OLED televisions. D. 120 LCD televisions that must be forgone to produce 40 additional OLED televisions.
Which of the following would encourage economic growth through increases in the capital stock?
A) an increase in the profitability of new investment due to technological change B) an increase in household saving C) a decrease in the government deficit D) all of the above