A. Demand is inversely related to income
B. Demand in inversely related to price
C. Demand is directly related to price
D. Demand is inversely related to the price of substitutes
A. Productivity growth has been steady over the last 50 years
B. Productivity has been growing more slowly every decade since world War II
C. Productivity grew quickly in the 1950s and 1960s more slowly from the early 1970s through 1995 and then quickly again
D. Productivity grew slowly from the 1950s through the 1970s and then began to accelerate probably due to advances in computer technology
A. Protestants disapproved of accumulating wealth
B. Protestants failed to restrict extravagance and conspicuous consumption
C. Roman Catholicism expressed its asceticism in a secular vocation
D. capitalism was most advanced in Protestant countries
A. India
B. Argentina
C. United States
D. China
A. the difference between total revenue and total costs.
B. anything greater than the normal opportunity cost of investing
C. the opportunity costs of all inputs
D. a rate of profit that is just sufficient to keep owners and investors satisfied
A. is less than the cost of transporting it between them
B. is greater than the cost of transporting it between them equals the cost of transporting it between them
C. equals the cost of transporting it between them
D. more information in needed to answer this
A. hedge against inflation
B. Medium of exchange
C. unit of account
D. Store of value