A resource is defined to be:
A. something of value.
B. something that people respond to.
C. a good or service.
D. anything that can be used to make something of value.
Answer: D
Economics
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Deadweight loss is greatest when
a. both supply and demand are relatively inelastic b. both supply and demand are relatively elastic c. supply is elastic and demand is perfectly inelastic d. demand is elastic and supply is perfectly inelastic
Economics
Using the Keynesian model, the effect of a decrease in the effective tax rate on capital would be to cause ________ in the real interest rate and ________ in output in the long run
A) an increase; no change B) a decrease; no change C) an increase; an increase D) no change; a decrease
Economics