The "law of demand" states that, other things remaining the same, the quantity demanded of any good is
A) inversely related to its price.
B) directly related to its price.
C) positively related to its price.
D) directly related to the supply of the good.
A
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As productivity in the manufacturing sector increases, the service sector must keep pace or it will become more expensive in the long run
a. True b. False Indicate whether the statement is true or false
The key to a successful positive signal is that:
A. it is hidden information. B. it builds trust between the principal and the agent. C. it is costly to fake. D. All of these statements are true.
Steps taken to clean the environment may lead to
A. overproduction. B. higher prices. C. higher incomes. D. higher profits.
An example of a government policy to increase human capital formation is:
A. government support for basic research. B. the provision of publicly-funded education. C. the construction of an interstate highway system. D. maintaining a well-functioning legal system.