Economic goods are defined as
A) tangible items only.
B) services only.
C) anything from which an individual derives satisfaction.
D) any item which is available in sufficient quantity at zero price.
Answer: C
Economics
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The 1987 study by Bowen, Leamer and Sveikauskas
A) supported the validity of the Leontief Paradox. B) supported the validity of the Heckscher-Ohlin model. C) used a two-country and two-product framework. D) demonstrated that in fact countries tend to use different technologies. E) proved that the U.S.'s comparative advantage relied on skilled labor.
Economics
In the bathtub analogy, which of the following is a stock variable?
A) the amount of investment B) the rate of depreciation C) the amount of capital-per worker D) the Cobb-Douglass value
Economics