Economic progress comes primarily through
A) entrepreneurial action directed by competitive markets.
B) central planning.
C) imposition of trade barriers.
D) government investment in heavy industry.
A) entrepreneurial action directed by competitive markets.
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Refer to the scenario above. Pat should submit a bid of ________
A) $200 B) $180 C) $45 D) $135
Which of the following could explain a decrease in the interest rate and an increase in the equilibrium quantity of investment?
a. the supply of loanable funds shifted right. b. the supply of loanable funds shifted left. c. the demand for loanable funds shifted right. d. the demand for loanable funds shifted left.
Economists define inflation as
The price of necessities like food and gasoline. How fast on average prices are rising in a given period of time The value of the dollar Average house prices in a given area
Economies of scale involve a reduction in minimum average costs as a result of an increase in the size of plants and equipment.
Answer the following statement true (T) or false (F)