Which of the following would typically be considered a cost of economic growth?
A) increased illiteracy
B) decreased levels of health
C) increased poverty
D) urban congestion
D
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What is meant by the natural rate of unemployment?
Use the table below to answer the next question for a perfectly competitive firm.OutputTotal RevenueTotal Cost0$0$501407428094312011741601425200172The marginal revenue generated from the third unit of output is
A. $160. B. $120. C. $40. D. $50.
A good's price elasticity of demand can be calculated by using the formula of
A. absolute change in quantity demanded divided by absolute change in price. B. percentage change in quantity demanded divided by percentage change in price. C. percentage change in price divided by percentage change in income. D. percentage change in price divided by percentage change in quantity demanded.
There are fewer than half as many publishers of college textbooks in the United States now as a generation ago. Three companies alone account for almost two-thirds of the sale of new textbooks. This market situation characterized by very few sellers is known as
A. monopolistic competition. B. pure monopoly. C. perfect competition. D. an oligopoly.