One possible way of achieving faster economic growth is to
A) abolish the system of patents and copyrights so that everyone can use people's ideas.
B) limit international trade to only a few countries so that the nation is not hurt by too much trade.
C) encourage research and development.
D) limit schooling in order to have more people in the labor force, producing goods and services.
E) promote tax saving so that people spend more and businesses' profits are larger.
C
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Use the figure below to answer the following question.
At equilibrium, consumer surplus is
A. 400. B. 200. C. 150. D. 300.
When the price level rises there is a ________ the aggregate demand curve
A) movement down along B) rotation of C) rightward shift of D) leftward shift of E) movement up along
The opportunity cost of a decision is the value of the best foregone alternative to the decision-maker
a. True b. False Indicate whether the statement is true or false
An analysis of housing prices between 1987 and 2008 indicates that prices
a. increased sharply in the five years leading up to the housing bust in 2007. b. were relatively stable before dropping sharply in 2001. c. rose steadily during the 1990s, but declined sharply beginning in 2001. d. were erratic, but there was no discernable trend during either the 1990s or 2000-2006.