Deregulation of the airline and trucking industries was followed by the creation of many new firms.
Answer the following statement true (T) or false (F)
True
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The most basic premise of the aggregate expenditures model is that the
A. unemployment level in the economy is inversely related to the inflation rate. B. total output produced in the economy depends directly on the level of total spending. C. level of employment in the economy depends inversely on the real wage rate. D. total output produced depends mostly on the total capacity of firms to produce.
What is the distinction between expected wealth and expected utility?
What will be an ideal response?
Economists assume that the goal of consumers is to
A) make themselves as well off as possible. B) do as little work as possible to survive. C) consume as much as possible. D) spend all their income.
Figure 3.5 illustrates the supply of tacos. A technological advancement which makes tacos cheaper to produce would most likely cause a movement from:
A. point a to point c. B. point c to point a. C. S2 to S0. D. S0 to S2.