Economic growth comes from ________
A) people willing to increase their skills in which case, economic growth is free
B) producing more goods than people want to consume
C) capital accumulation and the avoidance of opportunity cost
D) capital accumulation and technological advance
D
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As we move along a planned expenditures line
A) price level falls. B) price level fluctuates depending on whether the economy is expanding or contracting. C) price level rises. D) price level is held constant.
Consumers' preferences are represented by
A) budget lines. B) indifference curves. C) relative prices. D) household income.
Consider the market for nonalcoholic beers from the previous question. Which of the following is the Bertrand reaction function for Cudweiser?
a. PC = 1 + .033PB b. PC = 1 - .033PB c. PC = 1.5 + .075PB d. PB = 1.5 + .075PC
The Federal Reserve System is a government insurance agency that provides depositors in participating banks 100 percent coverage on their first $100,000 of deposits
Indicate whether the statement is true or false