One of the reasons for the growth performance of free market economies is firms' use of innovation to compete with one another
a. True
b. False
Indicate whether the statement is true or false
True
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If this is a closed economy, the price of a TV will be ________. 
A. $75 B. $275 C. $125 D. $175
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Takeovers and takeover attempts waste valuable capital.
Answer the following statement true (T) or false (F)
Increasing marginal returns always occurs when the
A. average product of an additional worker is less than the average product of the previous worker. B. marginal product of an additional worker exceeds the average product of the previous worker. C. average product of an additional worker exceeds the average product of the previous worker. D. marginal product of an additional worker exceeds the marginal product of the previous worker. E. marginal product of an additional worker is less than the marginal product of the previous worker.