Regarding the issue of economic stability, nonactivists believe that
a. consumption is highly unstable over the business cycle.
b. the highest possible level of investment must be maintained over all phases of the business cycle.
c. minor economic disturbances often feed on themselves, leading to severe swings in the business cycle.
d. the self-correcting properties of a market economy work reasonably well.
D
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Compared to the distribution of money income, the distribution of wealth is
A) about the same. B) much more equal. C) much less equal. D) a little more equal.
As savings grow in an economy, economic growth rises
a. True b. False Indicate whether the statement is true or false
Everyone refers to Jerry as "Big Guy.". He is 6'4" tall and weighs 275 pounds (he says). It's probably closer to 300 pounds. Jerry loves hamburgers. He ate 4 of them at McDonald's one evening. He figured the last one was just worth the $1 price he paid. If his demand curve for hamburgers is downward sloping, then he
a. gained no consumer surplus because his demand curve is downward sloping b. would have gained consumer surplus if he had eaten one more hamburger c. gained consumer surplus on each of the four he consumed d. gained consumer surplus only on the first three hamburgers e. gained $1 consumer surplus on the fourth hamburger alone
Which of the following is NOT a true statement?
A) It is unclear whether any of the decline in U.S. manufacturing employment can be attributed to Chinese growth. B) China's growth has been beneficial to many countries. C) China does not import many goods. D) China had large trade surpluses.