The classical model assumes that
a. the supply of labor is fixed
b. the stock of capital and technology are fixed
c. the stock of capital and technology grows at a constant rate
d. the supply of labor grows at a constant rate
e. the supply of labor grows at an increasing rate.
B
Economics
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With capitalism, the allocation of goods and resources is determined by
a. market forces b. centralized planning c. government policy d. traditional customs
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Refer to the above figure. At a price of two cents, the quantity of bubble gum demanded will be
A) 3. B) 2. C) 4. D) 5.
Economics