"If all economists were laid end to end, they would not reach a conclusion.". Who made this whimsical observation?
a. Harry Truman
b. George Bernard Shaw
c. John Maynard Keynes
d. Ronald Reagan
b
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________ are the portion of claims that policyholders must pay for out of their own pockets
A) Dividends B) Tokens C) Coupons D) Deductibles
Do competitive markets use resources efficiently? Explain why or why not
What will be an ideal response?
If the market were perfectly competitive instead of dominated by a monopsonist, what would the equilibrium wage and level of employment be?
a. W1 and E1 b. W2 and E0 c. W0 and E0 d. W0 and E1 e. W0 and E2
Which one of the following are the components of aggregate expenditure?
a. household consumption, business investment, government spending for goods and services, and net exports b. household consumption, business investment, government transfer payments, and net exports c. household consumption, business investment, government spending for goods and services, and exports d. household consumption, business investment, government spending for goods and services, and saving e. household consumption, business inventories, government spending for goods and services, and net exports