In the United States during the 1950s and 1960s
A) the inflation rate was frequently less than 2 percent a year.
B) prices rose sharply.
C) prices fell.
D) there was zero inflation.
A
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If Bill is willing to pay $10 for one good X, $8 for a second, and $6 for a third, and the market price is $5, then Max's consumer surplus is:
a. $24 b. $18. c. $9 d. $6.
School Board Voters' Ordered PreferencesDavidErnieFionaNew gymNew libraryNew computer labNew libraryNew computer labNew gymNew computer labNew gymNew libraryIf a pair-wise majority vote was held to determine which school project gets funded and the voters' preferences are shown in the table, which option would David like to see voted on first?
A. Library and computer lab B. Gym and library C. Computer lab and gym D. It doesn't matter which options are considered first.
Consider an unregulated monopoly in Figure 8.13. Suppose that a second firm enters the market and both firms in the industry are profitable. After the second firm's entry, the industry is now classified as:
A. a natural monopoly. B. a duopoly. C. a monopolistic competitor. D. a pure competitor.
The source of "cutting-edge" growth is:
A. advances in technological knowledge. B. foreign investment. C. investment in physical capital. D. education and training to build human capital.