The return to a factor that is in fixed supply is a pure rent.
Answer the following statement true (T) or false (F)
True
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Jerome has a "C" average in his philosophy course and a "B" average in his economics course. He decides to study an extra hour for his philosophy exam. This is an example of
A) ceteris paribus. B) caveat emptor. C) using assumptions to simplify. D) thinking at the margin.
"The Federal Open Market Committee (FOMC) is the group within the Federal Reserve that makes monetary policy decisions. The FOMC meets twice a year and each meeting lasts eight days." Are these two statements correct or incorrect? Why?
What will be an ideal response?
Many _________ businesses raise _________ of their capital through debt.
a. small; most b. small; none c. large; most d. large; none
Data from most industrialized countries show that countries with high investment rates (as a percentage of GDP) tend to be countries
A. with the highest rates of inflation. B. with the most unequal income distribution. C. with high rates of economic growth. D. with the lowest rate of national saving.