John Maynard Keynes argued that the creation of wealth is properly the concern of government , not the concern of individuals .
A True
B False
B. False (This was Adam Smith's argument.)
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The table above has information about an economy. Using this information, GDP equals
A) $6,500 billion. B) $7,800 billion. C) $7,000 billion. D) $8,500 billion. E) some amount that cannot be calculated without information on the amount of government expenditures.
Bonds differ from stocks in all of these ways except
A. a purchase of corporate stock becomes a part owner of the corporation, while a bondholder does not. B. bondholders loan money to the corporation, which has priority for repayment, while stockholders may lose their investment. C. stockholders know with a high degree of certainty how much money they will get, while bondholders do not. D. All of these responses are correct.
Name the 6 pillars of free enterprise.
What will be an ideal response?
Which of the following examples uses ceteris paribus?
a. Sarah tests the influence of the price of grapefruit on the demand for the product while eliminating other variables. b. Bernard tests how the supply of zinc changes depending on the price and the expectation of future prices. c. Ghena tests the influence of the number of consumers and product quality on the demand for a sports drink. d. Diego tests how input prices, prices of related goods, and technology together change the supply of electric toothbrushes.