Author Question: Most modern economists agree that there is a single factor that can be used to explain economic ... (Read 59 times)

SGallaher96 · **on:** Jun 30, 2018

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.

Question 2

Which of the following is related to the concept of trade-off used in economics?
a. Paying tuition to attend college
b. Paying a high price for a movie ticket on the first day of screening
c. Not having enough information available to make a rational decision
d. Giving up one good or activity in order to obtain some other good or activity
e. Having your cake and eating it too