One reason that governments may find it useful to sponsor universities and basic research is that to a large extent knowledge is generally a private good
a. True
b. False
Indicate whether the statement is true or false
False
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Assuming all else equal, a rise in the rate of interest:
A) results in a fall in the cost of borrowing. B) results in a fall in the amount of interest accumulated on a loan. C) results in a fall in the quantity of credit demanded. D) results in an increase in the number of potential debtors.
Microeconomics focuses on ____; macroeconomics concentrates on ____.
A. the basic tools of analysis; the use of abstractions and models B. the economies of various countries; the decisions of individual companies C. the decisions of individual units; the behavior of entire economies D. the economic aggregates; the decisions of individual units
If the quantity of labor supplied increases by 5 percent when the wage increases by 10 percent, the elasticity of labor supply is:
A. 5. B. 2. C. 1/2. D. 1/5.
The primary legislative branch of the European Union is called the
A) European Commission. B) European Parliament. C) European Council of Ministers. D) Council of the European Union.