A decrease in demand will cause the equilibrium price and quantity of a good to fall, ceteris paribus.
Answer the following statement true (T) or false (F)
True
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Define what dead capital is and why economists are concerned with its existence
What will be an ideal response?
British manufacturers lost their competitive edge in the early twentieth century to industries in the United States and elsewhere in Europe mainly because they failed to reorganize their operations to take full advantage of their inventions
Indicate whether the statement is true or false
An outcome is said to be efficient if an economy is conserving the largest possible quantity of its scarce resources while still meeting the basic needs of society
a. True b. False Indicate whether the statement is true or false
Externalities tend to cause markets to be
a. inefficient. b. unequal. c. unnecessary. d. overwhelmed.