Which statement is true?
A. In the short run and the long run the perfect competitor will break-even.
B. In the short run and the long run the perfect competitor will make a profit.
C. In the short run the perfect competitor may make a profit or take a loss.
D. In the long run the perfect competitor will make a profit, but in the short run she will break-even.
C. In the short run the perfect competitor may make a profit or take a loss.
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"Near monies" are
a. stocks, bonds, and real estate. b. U.S. notes and Federal Reserve notes. c. included in the M1 definition of the money supply. d. liquid assets that are close substitutes for money. e. All of the above are correct.
If consumers spend 85 cents out of every extra dollar received, the:
A. MPC is 0.85. B. MPC is 0.15. C. MPC is 6.67. D. MPS is 0.85.
Keynes believed that the government should increase spending and reduce taxes during an economic downturn because ________.
A. he agreed with the classical macroeconomic theorists B. he was only focused on the long-run impacts of government policy C. doing so would shorten the duration of the downturn D. otherwise the economy would never recover
A very small percentage of GDP tends to come from the service sectors in poor countries.
Answer the following statement true (T) or false (F)