When resources are readily available, such as during the Great Depression, they can be used to produce more goods (and create more income) without causing prices to increase
Indicate whether the statement is true or false
T
You might also like to view...
Figure 4.4 illustrates the supply of tacos. An increase in the number of Mexican food producers would most likely cause a movement from
A) point a to point c. B) point c to point a. C) S0 to S2. D) S2 to S0.
If the demand for a good is determined to be "inelastic," then the elasticity measure
A) is greater than 1.0. B) is equal to 1.0. C) is less than 1.0. D) is infinite.
As of 2012, the bank portion of TARP:
A) earned a profit of $21 billion B) earned a profit of $245 billion C) cost $266 billion D) cost $700 billion
Walter builds birdhouses. He spends $5 on the materials for each birdhouse. He can build one in 30 minutes. He is semi-retired but earns $8 per hour at the local hardware store. He can sell a birdhouse for $20 each. An economist would calculate the total cost for one birdhouse to be
a. $5. b. $8. c. $9. d. $13.