On average, since 1900 the population of the United States has grown by roughly ________ percent per year.
A. 3
B. 6
C. 1
D. 9
Answer: C
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Which of the following is TRUE for a single-price monopolist?
A) P > MR B) P < MR C) P = MR D) P = elasticity of demand
Refer to Figure 29-1. Currency speculators believe that the value of the euro will increase relative to the dollar. Assuming all else remains constant, how would this be represented?
A) Supply would decrease, demand would increase and the economy moves from A to D to C. B) Supply would increase, demand would increase and the economy moves from D to A to B. C) Supply would decrease, demand would decrease and the economy moves from B to C to D. D) Supply would increase, demand would decrease and the economy moves from C to B to A.
The basic organizing framework for both microeconomic and macroeconomic models is
a. purely competitive markets. b. government planning of the economy. c. demand and supply. d. democratic socialism. e. all of the above.
Which of the following is not subject to scarcity?
a. water b. steel c. diamonds d. none of the above