In a nation with a market economy, the consumer decides which products will be successful.
a. true
b. false
Ans: a. true
You might also like to view...
According to studies by Goldin and Skoloff (1982) and Craig and Field-Hendry (1993), the female-to-male wage ratio in the early 1800s
a. was higher in the North than in the South. b. is comparable to the ratio in 1860. c. encouraged the adoption and success of the Waltham system. d. was greater than one.
If Congress fails to pass a budget before the fiscal year starts, then federal agencies may continue to operate only if Congress has passed a:
a. deficit reduction plan. b. continuing resolution. c. conference resolution. d. balanced budget amendment.
As a person increases his or her caloric intake, the person's weight increases, ceteris paribus. The relationship between the person's caloric intake and the person's weight is an example of
A) unrelated variables. B) a positive relationshi
Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines because you do not gain any satisfaction from consumption of Y
As the price of X declines, the change in consumption of X is entirely composed of the: A) income effect. B) substitution effect. C) Giffen effect. D) independent good effect.