Like real GDP, investment fluctuates, but it fluctuates much less than real GDP
a. True
b. False
Indicate whether the statement is true or false
False
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A bureau's total output is decided at the same time as its budget just as in the private sector
a. True b. False
When a shortage exists in a market, sellers
a. raise price, which increases quantity demanded and decreases quantity supplied until the shortage is eliminated. b. raise price, which decreases quantity demanded and increases quantity supplied until the shortage is eliminated. c. lower price, which increases quantity demanded and decreases quantity supplied until the shortage is eliminated. d. lower price, which decreases quantity demanded and increases quantity supplied until the shortage is eliminated.
If the government imposes a binding price floor in a market, then the consumer surplus in that market will decrease
a. True b. False Indicate whether the statement is true or false
Economic growth is slow or absent in some economies because those lack
A) political freedom. B) democracy. C) a strong government. D) cultural freedom. E) economic freedom.