In the classical model,
a. markets do not automatically clear.
b. business demand for loanable fund exceeds business planned investment spending.
c. there is no government sector, only private consumption and planned investment.
d. businesses engage in interest-free borrowing.
e. the government's demand for funds is vertical.
E
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A market is perfectly competitive if
A) each firm in it can influence the price of its product. B) there are many firms in it, each selling a slightly different product. C) there are many firms in it, each selling an identical product. D) there are few firms in the market.
Refer to the table below. If this market is a Cournot Oligopoly and Firm X is produces 50 units, what is Firm Y's marginal revenue at a price of $70?
The table above shows the market demand for a product that both Firm X and Firm Y manufacture. Both firms produce an identical product and the firms' average total and marginal cost are equal and constant.
A) $80 B) $40 C) $60 D) $50
Systemic risks inhere mainly in the largest financial institutions.
Answer the following statement true (T) or false (F)
Behavioral economics is an approach to the study of consumer behavior
A. that, in contrast to standard approaches in economics, relies on real-world data to evaluate the usefulness of economic models. B. that emphasizes the capabilities of individuals to succeed in attaining all their unlimited wants utilizing limited resources. C. that, in contrast to standard approaches in economics, utilizes the ceteris paribus assumption. D. that emphasizes psychological limitations and complications that potentially interfere with rational decision making.