Which is the true statement?
A) A society does not need an authoritative central plan to generate order and cooperation.
B) A society will fall into social chaos without an authoritative central plan.
C) An economic system can last only if guided by a central economic plan.
D) Both B and C are true.
A
Economics
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To obtain real average hourly earnings, nominal average hourly earnings are multiplied by the CPI
Indicate whether the statement is true or false
Economics
The change in total output when one additional unit of labor is hired is known as the
a. capacity utilization rate b. average product of labor c. marginal product of labor d. total product of labor e. marginal output of labor
Economics