The nation's supply of productive resources increases if
A) investment is greater than depreciation.
B) investment equals depreciation.
C) investment is less than depreciation.
D) Both answers A and B can be correct.
E) None of the above answers is correct because the relationship between investment and depreciation has no bearing on the amount of the nation's productive resources.
A
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Refer to the above figure for a particular good. The rightward shift of the curve could have been caused by
A) a decrease in the price of an input. B) a decrease in the price of that good. C) an increase in the price of a complementary good. D) an increase in the price of a substitute good.
People interpret evidence to confirm beliefs they already hold. This statement is an example of which of the following systematic mistakes that people make?
a. people are overconfident b. people give too much weight to a small number of vivid observations c. people are reluctant to change their minds d. All of the above are correct.