Economists generally define economic growth as an increase in real income per capita
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Under a price ceiling, the full economic price is
A. higher than the free-market price. B. the dollar price paid to the firm. C. lower than the free-market price. D. the opportunity cost of not being able to buy a good when a consumer needs it.
The U.S. price support program, which guaranteed prices for currently grown crops:
A. ended with the passage of the Freedom to Farm Act of 1996. B. began with the Grain Planting Act of 1914. C. remains the core of U.S. farm policy. D. was restored in full and expanded by the Food, Conservation, and Energy Act of 2008.
Under a pure price system, the decision of resource allocation is made by
A. those who have the right to vote in government elections. B. individuals who own the resources. C. the head of the government. D. no one.
(Last Word) In 2000, Microsoft was fined $2.7 billion for