Big-push development projects normally require government funding because private sources are unwilling, and often unable, to support such large projects
Indicate whether the statement is true or false
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Which of the following shows the combination of two products that have the same utility or satisfaction?
A. Production possibility curve B. Insignificance curve C. Demand curve D. Indifference curve
According to your authors, "wealth = material things"
A) must be rejected. B) makes sense to economists, but not non-economists. C) is the correct definition of wealth. D) helps us understand the foundations of what Adam Smith called the commercial society.
Which of the following statements about featherbedding is correct?
A. It could increase production costs, resulting in higher prices for products. B. The quantity of labor demanded by firms could actually decrease. C. It could lead to a lower wage and smaller employment in the long run. D. All of these
Assume an equilibrium price of $7 and equilibrium quantity of 8 units at demand D and supply S2 in the graph shown. Total surplus is:
A. $12. B. $32. C. $16. D. $56.