The study of economics is primarily concerned with:
A. keeping private businesses from losing money
B. demonstrating that capitalistic economies are superior to socialistic economies.
C. choices that are made in seeking the best use of resources.
D. determining the most equitable distribution of society's output.
Answer: C
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The direct benefits of out-migration to a developing nation include:
(a) Loss of skilled workers. (b) Increased remittances. (c) Job growth. (d) Larger capital formation.
The demand curve faced by the monopolist
A) has a constant price elasticity. B) is the industry demand curve. C) is identical to the firm's MR curve. D) is identical to the firm's TR curve.
Which of the following is credited with making the greatest contribution to economic growth over time for the United States?
A. Improved management techniques. B. Investment in capital. C. Research and development. D. Increased education.
Refer to the information provided in Figure 23.11 below to answer the question(s) that follow.
Figure 23.11Refer to Figure 23.11. A ________ increase in investment changes equilibrium output to $240 million.
A. $5 million B. $10 million C. $20 million D. $50 million