Simon's man from mars would see primarily
a. the flow of international trade
b. capital hiring labor
c. markets failing
d. the flow of transactions within enterprises
e. all of the above
D
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A Nash equilibrium in the duopoly game
A) means that one player has greater market power. B) occurs when each player takes the best possible action regardless of the strategy chosen by other firms. C) will always lead to equilibrium in which the firms' total profit is the largest. D) can occur only if firms cooperate with each other. E) means that a firm must be able to determine its actions and the actions of its competitor.
Fiscal policy is policy aimed at controlling undesired fluctuations in overall spending through changes in
A) government expenditures and taxes. B) government subsidies to marginal business firms. C) interest rates. D) methods of making seasonal adjustments. E) price and wage regulation.
The most heavily traded American stocks are traded on the
a. New York Stock Exchange. b. American Stock Exchange. c. regional stock markets. d. "third market."
The multiplier effect states that there are additional shifts in aggregate demand from fiscal policy, because it
a. reduces investment and thereby increases consumer spending. b. increases the money supply and thereby reduces interest rates. c. increases income and thereby increases consumer spending. d. decreases income and thereby increases consumer spending.