Classical economists tend to
A. believe in Keynesian economics.
B. reject the equality of savings and investment.
C. support Say's law.
D. see unemployment as a persistent economic problem.
Answer: C
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Automobiles and many other products are differentiated. As a result,
A) we see countries specializing completely in the production of automobiles. B) consumers of automobiles have difficulty deciding what type of imported automobile to buy. C) different countries may each have a comparative advantage in producing different types of automobiles. D) the quality of imported automobiles is less than it could be.
Contractionary monetary policy will shift the AD curve rightward
Indicate whether the statement is true or false
Countries that have a large number of embassies, have memberships to international organizations, and participate in UN peace missions would be categorized under _____ globalization
a. cultural b. social c. political d. economic e. ethical
The interest rate is the ________ cost, hence the ________ cost, of investing in capital
a. actual cost; opportunity cost b. opportunity cost; actual cost c. opportunity cost; marginal cost d. marginal cost; total cost