The price at which a good or service is traded on international markets is called the ________ price.
A. international
B. world
C. market
D. universal
Answer: B
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When gross investment is greater than depreciation, then the nation's capital stock increased
Indicate whether the statement is true or false
Which of the following best describes an assumption economists make about human behavior?
A) They assume that people take into account the question of fairness in all decisions they make. B) They assume that individuals act rationally all the time in all circumstances. C) They assume that rational behavior is useful in explaining choices people make even though people may not behave rationally all the time. D) They assume that individuals act randomly.
Which of the following was not a major factor in explaining the decline of death rates in the U.S. in the late 19th and early 20th century?
a. urbanization b. improvements in sanitation c. improvements in medical treatments d. Both a and c are correct.
A market that operates outside the legal system, either by selling illegal goods or by selling goods at illegal prices is referred to in economics as a
a. gray market. b. resource market. c. black market. d. criminal market.