According to Keynes, an unbalanced budget is appropriate in all of the following situations except when
A. The economy is at full employment.
B. Leakages and injections are out of balance.
C. The economy is below full employment.
D. Macro equilibrium is above full employment.
Answer: A
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A defendant believes there is a 40 percent chance that the plaintiff will win $1,000,000 and a 60 percent chance that the plaintiff will lose and be awarded nothing (zero). The plaintiff believes that there is a 60 percent chance that they will win $1,000,000 and a 40 percent chance that they will be awarded nothing (zero). The plaintiff's litigation cost is $100,000 and the defendant's
litigation cost is $400,000. Which of the following statements is true? A) The plaintiff would be will to accept any amount greater than $450,000 to settle. B) There is no economic incentive for either party to settle. C) The defendant would be willing to pay up to $900,000 to settle. D) The defendant would be willing to pay up to $800,000 to settle.
Between 1830 and 1860, the number of miles of railroad in operation increased by
a. roughly 100 percent. b. roughly 500 percent. c. roughly 750 percent. d. over 1000 percent.
When women ask their employers for a raise, they ask for 30 percent less than do men.
Answer the following statement(s) true (T) or false (F)
Along a perfectly competitive industry's long-run supply curve
A. the market price is higher than the marginal costs of firms B. the number of firms is constant. C. economic profits are zero. D. economic profits are positive.