In the United States, the main contributor to economic growth is due to the growth in
A. labor resources.
B. physical capital.
C. land.
D. foreign capital.
Answer: A
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For a good with an external cost, the supply curve
A) represents the various quantities people can buy. B) is the same as the marginal private cost curve. C) is the same as the marginal social cost curve. D) is the same as the marginal external cost curve.
Based on the production and revenue data in the above table, what is the price of the product?
A) $100 B) $10 C) $1 D) More information is needed to determine the price of the product.
The U.S. economy has grown steadily over the years
a. True b. False Indicate whether the statement is true or false
In which statement(s) are "supply" and "quantity supplied" used correctly? (I) "An increase in the price of toasters will increase the quantity supplied of toasters." (II) "A technological advance that lowers the cost of producing toasters will increase the supply of toasters."
a. in both statements I and II b. in statement I only c. in statement II only d. in neither statements I nor II