Say's law argues that I. overproduction is typical in a market economy. II. supply creates its own demand
A) I only
B) II only
C) Both I and II
D) Neither I nor II
B
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A good example of monopolistic competition is
A. brain surgeons. B. airlines serving a small city. C. defense contractors. D. neighborhood restaurants.
The currency deposit ratio, c, is 0.10. The reserve requirement, rr, is 0.08. The excess reserve ratio, e, is 0.05. What is the size of the money multiplier?
A) 4.70 B) 4.78 C) 4.75 D) 4.00
If the price of new automobiles rises in the U.S. market while prices remain unchanged in foreign markets,
a. foreign firms will want to export fewer automobiles to the United States b. foreign firms will want to export more automobiles to the United States c. foreign firms will not change their exports to the United States since it is a different market d. U.S. firms will want to export more automobiles to foreign markets e. U.S. firms will not change their exports to foreign markets unless foreign prices also change
Refer to the diagram, where variable inputs of labor are being added to a constant amount of property resources. Average variable cost will be at a minimum when the firm is hiring:
A. Q 3 workers.
B. Q 2 workers.
C. Q 1 workers.
D. more than Q 3 workers.