In corporations, which of the following are agents but not principals?
a. shareholders
b. the board of directors
c. managers
d. workers
d
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Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
Which of the following schools of thought believes that the major source of the macroeconomic problems are the disequilibria in the private labor and goods market?
a. Keynesians and new Keynesians b. Only monetarists c. Only new classical economists d. Monetarists and new classical economists e. Monetarists and Keynesians
Japan's remarkable economic growth in the 20th century was a result of _____.
Fill in the blank(s) with the appropriate word(s).
One reason to require licensing of attorneys is that
A. legal services are a private good. B. legal services generate positive externalities. C. consumers of legal services lack perfect information. D. legal services are used primarily by the wealthy.