The classical economists felt that saving would be equal to investment because
A) wages are flexible.
B) prices of domestic goods are flexible.
C) interest rates are flexible.
D) prices of imports are flexible.
C
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Macroeconomics is the study of individual economic markets
Indicate whether the statement is true or false
Network externalities
A) prevent the dominance of a market by one firm. B) are created when celebrity endorsements of products lead to a surge in the demand for those products. C) exist when the usefulness of a product increases with the number of consumers who use it. D) can only exist when there are economies of scale.
U.S. cotton production
a. remained concentrated in Georgia and South Carolina until after 1860. b. was unable to compete with wool production in the antebellum textile industry. c. accounted for more than half of the dollar value of US exports between 1800 and 1850. d. faced declining world demand for most of the antebellum period.
"Ensuring that Social Security is financially sound for future generations is an important use of taxpayer dollars" is an example of a
a. normative economic statement. b. positive economic statement. c. statement made by an economist working as a scientist. d. judgment based on evaluation of evidence, not values.