The demand schedule shows that the price of a good and quantity demanded are directly related to each other
a. True
b. False
Indicate whether the statement is true or false
False
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Productivity is measured as output per unit of productive input
a. True b. False Indicate whether the statement is true or false
In an idealized laissez-faire world, the distribution of products is
a. the most efficient. b. the most fair. c. purely random. d. unpredictable.
Willis knows that the price of real estate in his city will rise significantly in a few years because many multi-national companies are setting up new offices. He decides to invest a major portion of his income in buying real estate now. This is an example of _____
a. absolute advantage b. rational expectations c. adaptive expectations d. sticky wages
A profit-maximizing firm will hire inputs until MRP = P of the input.
Answer the following statement true (T) or false (F)