What factor probably contributes most to economic growth?
A) Money
B) Political influence
C) Foreign aid and investment
D) The exploitation of poor countries by rich countries
E) Productive knowledge
E
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If a perfectly competitive firm like the one depicted in Figure 9-3 produces 575 units
a.
its profit will be larger than if it produces only 475
b.
its profit will be exactly the same as if it produces 475
c.
its profit will be smaller than if it produces only 475
d.
it will be forced to shutdown
e.
its profit will be smaller than if it produced 475 but it will still make a profit.
Older people often reminisce about the “good old days” when prices were much lower. This is misplaced nostalgia primarily because in the “good old days,”
A. prices were not really that low. B. wages were much lower also. C. people worked longer hours. D. people had more leisure time.