Which statement is true?
A. Derived demand is the demand for resources.
B. Resources are measured by units of outputs.
C. Final demand is measured by units of inputs.
D. None of the statements are true.
A. Derived demand is the demand for resources.
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A sum of money received at a future date is worth less than the same sum of money received today. Why? Explain this with an example.
What will be an ideal response?
Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
A trade surplus occurs when a country's exports exceed that country's imports
Indicate whether the statement is true or false
Firemen generally are paid higher wages because
a. they are usually highly educated b. they are usually working under riskier conditions c. they are working long and uncertain hours d. both B&C