New growth theory assumes that
A) all inputs experience diminishing returns.
B) only random technological advances produce growth.
C) knowledge does not experience diminishing returns.
D) None of the above answers is correct.
C
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In accordance with the law of supply, if the price doubled, the quantity supplied would generally
a. rise. b. fall. c. double. d. drop by half.
The legislature is at a bargaining disadvantage with a bureau because _____
a. they have many bureaus to oversee b. its members reveal their demand for the good through speeches and public statements c. they typically obtain all their information from the bureau d. all of the above e. a and c
A manufacturer produces 1,000 units, regardless of the market price. For this firm, the price elasticity of supply is
a. infinity. b. zero. c. one. d. negative one.
How much is the percentage of income received by the middle three quintiles on line S?
