There is an increase in demand for personal computers at the same time their input costs fall. We would expect that:
a. price will fall, but the effect on quantity sold is uncertain
b. the quantity sold will decline, but the effect on price is uncertain.
c. the quantity sold will increase, but the effect on price is uncertain.
d. price will rise, but the effect on quantity sold is uncertain.
c
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When a society's economic institutions provide secure property rights, set up a judicial system that enforces contracts and upholds the law, allow private parties to sign contracts for economic and financial transactions, and maintain relatively free
entry into different businesses and occupations, the institutions in the society can be said to be: A) inclusive. B) extractive. C) exogenous. D) exclusive.
Agraria is a small agricultural country that does not trade with the rest of the world. Based on this information, we can conclude that Agraria is a(n) ________ economy
A) closed B) communist C) command D) open
The benefit of an activity is
A) the gain or pleasure that it brings. B) not measurable on the margin. C) purely objective and measured in dollars. D) the value of its opportunity cost. E) measured by what must be given up to get one more unit of the activity.
Before 1980, U.S. investors rarely invested in foreign capital markets
Indicate whether the statement is true or false