Economists consider profit to be
A) a cost of producing goods and services.
B) something that should be eliminated by antitrust laws.
C) the same as a salary.
D) a reward for incurring losses.
A
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Countries with small amounts of capital per worker tend to have ________ levels of real GDP per person and ________ levels of average labor productivity.
A. high; high B. low; average C. low; low D. high; low
Which of the following is true?
A) If the price of a substitute rises, the demand curve shifts leftward. B) An increase in the cost of producing a good shifts the demand curve leftward. C) An increase in population shifts the demand curve leftward. D) If people expect the price of a good will rise in the future, the demand curve shifts leftward. E) For an inferior good, when income increases, the demand curve shifts leftward.
Why is judging trends in economic indicators important to managers?
What will be an ideal response?
During the 1965-2009 period, the price index of healthcare services
a. declined slightly relative to the overall consumer price index. b. fell by approximately 50 percent compared to the overall consumer price index. c. increased at twice the rate of the overall consumer price index. d. rose during a brief period following the passage of Medicare and Medicaid but has been relatively stable since that time.