The concept of "opportunity cost" helps us explain the choices of
A) consumers only.
B) producers only.
C) greedy people only.
D) politicians only.
E) any individual.
E
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An increase in human capital will tend to cause which of the following?
A) increase labor productivity B) increase the standard of living C) increase economic growth D) all of the above
Jerome says that he will spend exactly $25 each month on new apps for his mobile device, regardless of the price of apps. Jerome's demand for apps is
a. perfectly elastic. b. unit elastic. c. perfectly inelastic. d. somewhat inelastic, but not perfectly inelastic.
The marginal propensity to save is the change in saving divided by the change in:
a. Consumption b. Investment c. Income d. Debt
In which of the following market structures with 2 identical firms do both firms produce more than the Cournot outcome?
A) Stackelberg Oligopoly B) Cartel C) Perfect Competition D) None of the above.