The concept that producing goods and services generates the means and the willingness to purchase other goods and services is
A) the Keynesian approach.
B) money illusion.
C) Say's law.
D) cost-push inflation.
C
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All homothetic goods are normal goods.
Answer the following statement true (T) or false (F)
The major cause of a 3-4% increase in unemployment over a short time period is likely to be a structural unemployment change
Indicate whether the statement is true or false
If labor productivity increases
A) labor costs rise by equal increments. B) the demand for labor increases. C) some workers will be laid off. D) jobs will relocate.
Which of the following is not a characteristic of capitalism?
a. Private ownership of the factors of production. b. Businesses make their own product and price decisions. c. Public ownership of the factors of production. d. Decentralized decision-making using markets.