The economist Joseph Schumpeter argued that industrial concentration, in which a relatively small number of firms control the market place, actually ________ the rate of ________.
A. increased; market competitiveness
B. decreased; technological advance
C. decreased; market competitiveness
D. increased; technological advance
Answer: D
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Why does the substitution bias cause the consumer price index to overstate inflation and the cost of living? Why does the increase in quality bias cause the consumer price index to overstate inflation and the cost of living?
What will be an ideal response?
If the MPS is 0.1 and the income tax rate is 0.33, and the fraction of income spent on imports is 0.25, then the multiplier is
A) 2.5. B) 1.47. C) 1.51. D) 1.55.
According to the graph shown, if this economy were open to free trade, domestic consumers would consume how many units?
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. 45
B. 85
C. 120
D. 75
Studies have shown that tipping is much less common in countries where caring and personal relationships are highly valued, as opposed to the values of success and materialism
Indicate whether the statement is true or false