The Industrial Revolution in England in large was the result of
A) growth in human capital.
B) technological innovations encouraged by the patent system.
C) population growth.
D) technological innovations that were financed mainly by government spending.
B
Economics
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Opportunistic behavior may occur when
A) a firm buys its inputs from multiple suppliers. B) firms incur significant transaction costs when negotiating contracts. C) a firm backwards vertically integrates. D) a firm can buy a key component from only one supplier.
Economics
The income elasticity of demand is equal to the percentage change in income divided by the percentage change in quantity demanded
a. True b. False Indicate whether the statement is true or false
Economics