A decrease in taxes will shift aggregate demand to the _____, cause consumption to _____, and cause output to _____. Due to the crowding-out effect, investment will _____
Fill in the blank(s) with correct word
right, increase, increase, decrease
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When single-input producer choice sets are non-convex, the first order condition of the profit maximization problem is neither necessary nor sufficient for identifying the profit maximizing production plan.
Answer the following statement true (T) or false (F)
Refer to the table above. If you are told that Country B is very much richer than Country A, then the correct answer is
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.
Suppose the demand for pork is given by the equation
Q = p-0.5pc0.2 where pc is the price of chicken. Compute the cross-price elasticity of demand for pork
The opportunity cost of holding money is measured by
A. the price of government bonds. B. the return from company stock shares that the money can buy. C. the interest yield that could have been earned by holding some other asset. D. the liquidity of interest-bearing assets.