Which of the following has no market “price”?
A. Labor
B. Capital
C. Entrepreneurship
D. Fixed factors
Answer: C
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The price of a bag of pretzels rises from $2 to $3 and the quantity demanded decreases from 100 to 60. What is the price elasticity of demand?
A) 1.0 B) 1.25 C) 40.0 D) 20.0 E) 0.80
When a seller expects the price of its product to decrease in the future, the seller's supply curve shifts left now
a. True b. False Indicate whether the statement is true or false
The Real GDP of country X doubled in 10 years. It follows that
A) the per-capita Real GDP doubled during this time, too. B) the per-capita Real GDP remained stable during this time. C) the per-capita Real GDP fell during this time. D) disposable income also doubled during this time. E) none of the above
According to the text, which of the following items has the U.S. federal government subsidized for farmers?
A. Seeds. B. Migrant workers. C. Transportation. D. Marketing.