The median household income is
A) the income that separates households into two equal groups.
B) the most common household income.
C) the mean household income.
D) the average household income.
A
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All else equal, if oil prices increase, annual oil consumption will ________ and the years it will take to deplete the stock of oil will most likely ________
A) decrease; increase. B) decrease; decrease C) increase; increase D) increase; decrease
Price tags reduce transaction costs in countries where people's time is more valuable
Indicate whether the statement is true or false
If MV rises from 250 to 375,
A. PQ will fall by 50%. B. PQ will remain the same. C. PQ will rise by 50%. D. PQ will rise by 100%.
To be considered capital, a factor of production must:
A) have been produced. B) occur naturally. C) be part of a factory or building. D) be a skill or talent possessed by a person.