Institutions are
A) the same thing as organizations.
B) associations of individuals or groups.
C) always embodied in a written set of rules.
D) a set of rules governing behavior, whether written or not.
D
Economics
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A perfectly elastic demand curve is
a. a vertical straight line b. a horizontal straight line c. a downward-sloping straight line d. an upward-sloping straight line e. not a straight line
Economics
For given inputs of labor and capital, if technology is better, labor productivity will be
a. higher. b. lower. c. unchanged. d. characterized by increasing returns to scale.
Economics