Which of the following economic theories favors an active role for government in promoting low inflation and economic growth?
a. New Keynesian
b. Monetarists
c. New classical economists
d. Classical economists
e. Marxists
a
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Earth Movers & Shakers operates 3 iron ore mines. The table below shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total TonsPer DayNumber ofMinersMother Lode10025Scraping Bottom3010Middle Drift7515The opportunity cost of moving one miner from Mother Lode to another mine is:
A. 4 tons per day. B. 1 ton per day. C. 2 tons per day. D. 3 tons per day.
Income redistribution ________
A) creates an income distribution that is less equal than the market distribution B) is efficient because it makes the distribution of income more equal. C) eliminates the big tradeoff between rich and poor D) creates a deadweight loss
A $5 million deposit outflow from a bank has the immediate effect of
A) reducing deposits and reserves by $5 million. B) reducing deposits and loans by $5 million. C) reducing deposits and securities by $5 million. D) reducing deposits and capital by $5 million.
If the competitive firm maximizes profit by selecting labor rather than output, it will earn greater economic profit
Indicate whether the statement is true or false