A person's productive contribution in a capitalist society is measured by determining the
A) market value of the individual's output.
B) comparable output of other workers in similar jobs.
C) total number of goods produced by the individual.
D) index of occupational values.
A
Economics
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For which of the following goods is the income elasticity of demand likely to be largest?
a. paperback mystery stories b. best-selling hardcover novels c. used textbooks d. children's books e. leather-bound editions of Shakespeare
Economics
If a perfectly competitive industry's long-run supply curve is downward sloping, we can conclude that input prices will:
a. increase as industry output increases. b. decrease as industry output increases. c. remain constant as industry output increases. d. none of these conclusions can be drawn.
Economics