Collective consumption goods can lose their collective consumption characteristics as they get more crowded
a. True b. False
a
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According to Habakkuk (1962), the high price of western lands before the Homestead Act (1862) kept workmen in the eastern manufacturing cities and thus slowed down the rate of adoption of labor-saving technology
Indicate whether the statement is true or false
During the period in which the Navigation Acts guided colonial trade, international trade was safe and many countries fairly engaged in commercial trade
Indicate whether the statement is true or false
Profit maximization is
A. the only motive of any firm’s management. B. a behavioral assumption to simplify analysis. C. the same as satisficing. D. a literal description of a firm’s behavior.
Assume the MPC is 0.80. If the government wants to eliminate an AD shortfall of $300 billion, it should
A. Cut taxes by $75 billion. B. Increase taxes by $60 billion. C. Cut taxes by $240 billion. D. Cut taxes by $60 billion.