_____ is the resource whose productivity is most commonly measured
a. Labor
b. Capital
c. Land
d. Energy
e. Money
a
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Plot the demand for caviar given the following information on quantity consumed and total utility; then explain why caviar sells for such a high price. Quantity (in ounces) Total Utility (in dollars) 1 50 2753 884 95 599?
What will be an ideal response?
An increase in the education level inside a nation would cause the:
A. long-run aggregate supply curve to shift to the right. B. long-run aggregate supply curve to shift to the left. C. short-run aggregate supply curve to shift to the left. D. aggregate demand curve to shift to the right.
When we say that economic fluctuations are "irregular and unpredictable," we mean that
a. the relationship between output and unemployment is erratic and difficult to characterize. b. when one macroeconomic variable that measures income or spending is falling, other macroeconomic variables that measure income or spending are likely to be rising. c. recessions do not occur at regular intervals. d. All of the above are correct.
Which of the following would be classified as a personal consumption expenditure?
A. Your purchase of this economics course. B. Your purchase of a newly constructed house C. Your purchase of a preowned house. D. Your purchase of one share of Microsoft stock.