According to the Application, people in Morocco bring meteorites picked up in the desert to local dealers, who then sell them to the public through Websites. This process is a description of
A) a market system. B) a bureaucratic system.
C) a barter economy. D) a centrally planned economy.
A
Economics
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Which of the following statements is NOT true about economic growth?
A) Growth is measured as the overall level of real GDP. B) Growth generally means that overall the members of the nation are better off materially. C) When growth occurs the production possibilities curve shifts outward. D) Growth represents an increase in a nation's productive capacity.
Economics
If the utility function (U) between food (F) and clothing (C) can be represented as U = , the marginal utility of food equals
A) . B) . C) 1/2 . D) 1/2 .
Economics