The second phase of the Industrial Revolution
A. began in the early 1980s with the development of computers and the internet.
B. started in Europe with the railroad industry.
C. launched the "information age".
D. started in America in the 1920s with the mass production of cars and electrical machinery.
D. started in America in the 1920s with the mass production of cars and electrical machinery.
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Which of the following most accurately reflects the opportunity cost to a pharmacist who drives a taxi?
What will be an ideal response?
Answer the following statement(s) true (T) or false (F)
1. Planned expenditure has a pronounced effect on the short-run business cycle. 2. Overall, output tends to fluctuate more than investment spending. 3. Optimistic consumer expectations can cause changes to several of the autonomous components of aggregate expenditure. 4. The expenditure multiplier applies only to changes in planned investment spending. 5. The true expenditure multiplier is usually larger than the calculated multiplier.
One of the benefits of specialization is
A. greater output. B. specialists cost less to hire. C. people enjoy doing one repetitive task over and over. D. training costs are higher.
The relationship between sales and revenue is
A) a direct relationship. B) independent. C) a negative relationship. D) an inverse relationship.