Which is not one of the Five Fundamental Questions?
A) How will the goods and services be produced?
B) Who will get the goods and services?
C) How will the system accommodate change?
D)What goods and services should be produced by government?
D)What goods and services should be produced by government?
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If the income from investments abroad and net transfer payments are negligible, the current account becomes equivalent to a country's net exports
Indicate whether the statement is true or false
An increase in the price of good 2 will cause the demand curve for good 1 to shift out.
Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
1. All goods and services produced during the year are added to the total wealth of the nation. 2. Stocks and bonds are counted as part of total wealth. 3. To understand the purpose of a given economic policy, it is necessary to understand the influence of political and social policies. 4. Economics is an isolated science since it has no relation to other sciences.
With no price discrimination,
a. A firm sells every unit at different prices b. A firm sells every unit at same prices c. Low-value groups pay a lower price than the high-value groups d. Low-value groups pay a higher price than the high-value groups