Which view of the causes of the Great Depression emphasizes that there is little evidence that the economy was suffering from any real shortage of money; the problems, instead, stemmed from a fall of private consumption and investment spending?
(a) The Monetarists'
(b) The Keynesians'
(c) The Austrians'
(d) The International View
(b)
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Based on the model, the competitive price level is
Consider the following model for the production of refined oil: MSC = 10 + 0.5Q; MEC = 0.3Q; MSB = 30 – 0.3Q; MEB = 0. a. PC = $18 b. PC = $20 c. PC = $25 d. PC = $40
Refer to the scenario above. What is the quantity effect of the price change?
A) $1,400 B) $2,700 C) $5,400 D) $6,750
When Smartville's personal computer assembly plant closed, 30% of the community's labor force was laid off. Following this event Joe's New Car Dealership (NCD, Inc) complained because the __________ new cars __________
a. quantity supplied of; fell b. supply of; increased c. quantity demanded of; fell d. demand for; fell e. demand for; was unchanged
Since a large and a small wind turbine have the same installation, operating, and maintenance costs, but a large turbine has four times the generating capacity but costs less than three times as much as a small turbine, the wind power industry faces decreasing returns to scale.
Answer the following statement true (T) or false (F)