Why does the government not have to repay debt, as do private individuals?
a. Because the government can ignore creditors and refuse payment.
b. Because the government, as a dictatorship, is unresponsive to demands for repayment.
c. Because the government has no debt, it owes it to itself.
d. Because the government does not have a finite life, as do individuals.
d
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The term ceteris paribus means that
a. all important variables in the real world are considered b. all factors that influence the event are changing at the same time c. everything else is being held constant d. everything, except one influence, is changing e. the consumer is king
When a firm faces a perfectly competitive market and buys its inputs from perfectly competitive markets, the only choice the firm has to affect its profits is to:
A. increase its selling price. B. change the quantity it produces. C. decrease its cost of production lower than other firms. D. decrease the selling price.
A country's level of economic freedom is influenced by
A) freedom to trade internationally. B) the relative size of government expenditures, taxes and enterprises. C) the even-handedness of the court system and security of property rights. D) all of the above.
The supply curve shifts to the right when a seller sells a good.
Answer the following statement true (T) or false (F)