One of the basic economic defenses of economic growth rests on the conclusion that:
A. Growth makes workers less obsolete and more secure in employment
B. Growth reduces the cost to society of "common property" resources
C. Growth makes the gap between unlimited wants and scarce resources less acute
D. A growth-oriented society confers a "work and look to the future" attitude on the members
of society
C. Growth makes the gap between unlimited wants and scarce resources less acute
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In return for their services in the primary securities market, investment banks earn a fee called a(n)
A) underwriting spread. B) bid-asked spread. C) dealer's spread. D) broker's spread.
The current price floor in the agricultural lettuce market makes it such that price of lettuce is 25% higher than equilibrium price and 100 heads of lettuce are demanded
Assuming that the elasticity of demand for lettuce is -0.50, what would be the equilibrium price and quantity of lettuce if the government removed the current price floor? A) Price = 0.875, Quantity = 125 B) Price = 1, Quantity = 112.5 C) Price = $0.75, Quantity = 112.5 D) Price = $0.75, Quantity = 125