The classical economists
A. believed that supply creates its own demand.
B. believed that any money saved will be invested.
C. believed that the economy was always tending toward full employment.
D. All of the statements are true of classical economists.
D. All of the statements are true of classical economists.
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Refer to Table 11-2. What is the marginal product of the 4th worker?
A) 230 bushels B) 57.4 bushels C) 50 bushels D) 12.4 bushels
Trade deflection is an act that
A) decreases the amount of international trade in the world. B) increases the amount of international trade in the world. C) has no impact on the amount of international trade in the world. D) is illegal among all countries in the world.
A new public playground has just been built in a town. Which action of the citizens would best demonstrate the Tragedy of the Commons?
a. Every Friday a group of parents meet there to play with their children. b. A civic group collects litter from the park once a month. c. Most residents stay at home and do not use the park. d. Many people litter and misuse the equipment, causing it to break.
The price elasticity of demand for color printers is 1.6 and you would like to see the quantity demanded for color printers to increase by 32%. Then the percentage change in price should be:
A. 10%. B. 15%. C. 20%. D. 25%.