Which of the Following Statements Does Not Describe the U

question 220

Multiple Choice

Which of the following statements does not describe the U.S. economy as we finish the first decade of the new millennium?

• A) Information technology will continue to fuel the new economy.
• B) There will be more investment in information technology.
• C) There will be fewer opportunities for international trade.
• D) E-business will be a more important part of the economy.
• E) Service businesses will continue to employ more than half of the American workforce.

Understand various research methods used in psychology.

Recognize the importance of critical thinking in psychological research.

Understand the role of observation in psychological research.

Recognize the significance of cultural and biological factors in shaping human behavior.

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Definitions:

Market Price

The prevailing cost at which one can buy or sell an asset or service.

Marginal Cost

The augmentation in total costs associated with the production of an additional unit of a product or service.

Cartel

A group of independent market participants who collude to control prices and production in order to monopolize a market.

Fixed Cost

Costs that do not change with the level of output, such as rent or salaries.