Who holds this view: "…We are consuming more than we are producing, borrowing more than we are saving and spending more than we are earning."
A. Murray Weidenbaum
B. Thorstein Veblen
C. Benjamin Franklin
D. Adam Smith
A. Murray Weidenbaum
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For a good to be nonrival, then
A) one person's consumption of that good does not decrease another person's consumption of that good. B) a person cannot be prevented from consuming that good even if he or she did not pay for it. C) a person is willing to pay any price to ensure that the product is available. D) a person is not willing to pay for the good because even without paying for it, the person can consume the good anyway.
While monopoly power can be abused, it can also be used beneficially. What are the major pros and cons of largeness in business?
Of the following demographic groups, which has the lowest poverty rate in the U.S.?
A. Families headed by a female with no husband. B. Families in which the "head of the household" has not attained a high-school education. C. Families headed by a male with no wife D. Families in which the "head of the household" has attained at least a bachelor's degree from a college or university.
Refer to Table 7.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. The marginal revenue that Gladys receives from selling the fourth unit of output is:
A. $3. B. $6. C. $10. D. $24.