According to the water and diamond paradox, the value of a good to a person depends on how many utils are derived from the first unit of a good consumed
Indicate whether the statement is true or false
F
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Business cycles are officially dated by:
A) National Bureau of Economic Research, NBER. B) Bureau of Economic Analysis, BEA. C) Bureau of Labor Statistics, BLS. D) none of the above.
Refer to the information above. By accelerator theory, net investment will remain above zero in the long run only so long as
A) expected sales are greater than v* times the capital stock. B) replacement investment is above zero. C) expected sales keep rising. D) expected sales do not fall. E) actual sales fall below expected sales.
Stabilization policy may be necessary to modify or counteract volatile changes in aggregate demand
a. True b. False Indicate whether the statement is true or false
The theory of comparative advantage suggests that a (an):
a. country that is not competitive should import everything. b. country specialize in producing goods or services for which it has a lower opportunity cost. c. None of the answers are correct. d. industrialized country should not import.