A main cause of the cost disease of personal services is
A. the change from an agrarian society to an industrial society.
B. labor-saving innovations in the service industries.
C. the unevenness in the growth of productivity in the economy.
D. massive increases in industrial production at the expense of consumer goods production.
Answer: C
Economics
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Assuming instead that the market depicted in Figure 8.1 is perfectly competitive, the equilibrium price and output would be:
A) P2 and Q2. B) P1 and Q1. C) P4 and Q1. D) P3 and Q1.
Economics
Which of the following equals demand in a closed economy?
A) C + I + G + X B) C + I + G + X - IM C) C + I + G + IM - X D) none of the above
Economics