An increase in government spending is likely to lead to increasing inflation
A. under no circumstances.
B. if the economy is doing well.
C. if the economy is not doing well.
D. regardless of the state of the economy.
Answer: B
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Define capital. Explain the relationship between investment and capital
What will be an ideal response?
Refer to the table below. The expected value of the price of the input in Country A is ________ the expected value of the input in Country B and the extent of the variation in price in Country A is ________ than the extent of variation in price in Country B.
The above table provides the probability distribution of price of an input next year in Country A and Country B.
A) the same as; greater
B) less than; less
C) the same as; less
D) greater than; greater
Patents ________ permit investors to have a monopoly on their innovation and ________ permit them to earn economic profit.
A) do not; do not B) do; do not C) do; do D) do not; do
Social choice involves all of the following except
A. understanding the incentives facing politicians and public servants. B. consistently efficient decisions through the use of majority rule voting. C. deciding what society wants. D. aggregating over individual preferences.