In the short run, a surplus federal budget _____
a. reduces national saving
b. boosts domestic saving
c. stimulates aggregate demand
d. promotes economic growth in the long run
e. increases the federal debt
b
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An economy can achieve faster economic growth without ______
A. markets and property rights B. people being willing to save and invest C. incentives to encourage the research for new technologies D. an increase in the population growth rate
There is considerable evidence to support the assertion that legislated input combinations have reduced the costs of production in affected industries
Indicate whether the statement is true or false
A useful economic model
A) utilizes only the two most important factors to analyze the problem under consideration. B) generates statements that are incapable of refutation. C) represents every detail of the real world. D) yields usable predictions and implications for the real world.
An unregulated natural monopolist will produce the quantity at which
A. average total costs are minimized. B. the long-run average cost curve intersects the demand curve. C. marginal cost equals the long run average cost curve. D. marginal cost equals marginal revenue.