Most modern economists agree that there is a single factor that can be used to explain economic growth.
a. This is a true statement because what are needed are abundant resources
b. This is a true statement because at the foundation of economic growth, it is essential that there exist extensive private property rights.
c. This is a false statement because nearly all economists believe that economic growth is a complex process without a single dominant factor.
d. This is a false statement because economists typically do not agree on policy issues.
c
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Even though the catalogs listed in the Application were reissued every six months, the prices which were tracked in these retail catalogs
A) were not listed due to low rates of inflation. B) changed every month. C) tended to fall during periods of high inflation. D) were typically fixed for a year or more.
Comparing firms in perfectly competitive markets to monopoly firms, which charges higher prices?