Keynes recognized that if the economy were in a slump for a sufficiently long period of time:
A. spending and investment would eventually recover.
B. speculative bubbles would burst.
C. the economy would never bounce back.
D. interest rates would remain permanently high.
Answer: A
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Many economists argue that an incentive to save is
A) strengthening the property rights that savers have to the physical capital they purchase. B) greater government regulation of the banking and securities industries. C) a tax on consumption rather than on income. D) a tax on income rather than a tax on consumption. E) high income tax rates.
Average cost of production is
a. Total variable cost divided by total units produced b. Equal to marginal cost c. Total fixed cost divided by total units produced d. Total cost divided by total units produced
Google is currently being investigated by
A. Intel corporation. B. The FTC. C. The U.S. Justice Department. D. The European Antitrust Authority.
When Keisha receives a flu vaccination, the additional benefit enjoyed by Keisha's friends is the
A) marginal private benefit. B) marginal external benefit. C) marginal social benefit. D) private benefit. E) marginal private cost.