Economic theory assumes people will not do what is in the interest of all unless it is in the interest of
A) each.
B) humanity.
C) the government.
D) the public.
E) their own pocketbooks.
A
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If a person were in the 20% tax bracket and given the choice of a $500 credit or a $2500 deduction,
A. he would not care. They would constitute the same tax benefit. B. he would take the credit every time. C. he would not qualify for either. D. he would take the deduction every time.
A falling interest rate ________ the number of investment projects having a positive profit rate, and thus ________ the amount of output that firms demand for themselves
A) increases, raises B) increases, lowers C) decreases, raises D) decreases, lower
The development of the digital video and camera which replaced film cameras is an example of:
A. Roundabout production B. Derived demand C. Creative destruction D. Specialization
The ________ broadly we define a market, the less difficult it becomes to find ________.
A. less; substitutes B. more; goods independent of each other C. more; substitutes D. more; complements