When competition is present and private ownership rights are clearly defined and securely enforced,
a. production and trade are encouraged and plunder (taking from others) is discouraged.
b. people get ahead by helping others in exchange for income.
c. employers will have to provide prospective employees with at least as good a deal as they could get elsewhere.
d. all of the above are correct.
D
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In the above figure, Brendan originally consumes at point A. If his income rises and both compact discs and haircuts are normal goods then he could begin consuming at point
A) B, C, or D. B) B. C) C. D) D.
Adjusted R2 gives the actual percentage of the variation in the dependent variable explained by the regression model
Indicate whether the statement is true or false
Which is not counted in GDP?
A. A Social Security check sent to a retiree B. Government spending on highway building C. Money spent on an airline ticket D. Money spent by a company to build a new office park
Which of the following is NOT counted as an economic resource?
a. Land. b. Physical labor. c. Mental abilities of labor. d. Money supply. e. Entrepreneurship.