Relative to the Keynesians, the supply-side economists
a. place more emphasis on the importance on the level of investment than on the level of income.
b. place more emphasis on the after-tax rate of return as a determinant of investment.
c. are more concerned with government budget deficits.
d. All of the above
D
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The relationship between education and economic growth can best be summarized by saying that
A) educated people are less apt to consume goods that deplete economic resources, which encourages economic growth. B) educational expenditures tend to divert funds from productive investments, which discourages economic growth. C) educational expenditures tend to be inflationary, which discourages economic growth. D) education has benefits beyond those who receive the education, which encourages economic growth.
Average revenue is slightly higher than price.
Answer the following statement true (T) or false (F)
What factors cause the Phillips curve to? shift? ?(Check all that apply.?)
A. supply shocks B. changes in the expected inflation rate C. changes in the actual inflation rate D. demand shocks
Consumer equilibrium" refers to the situation when the consumer is getting:
A. The highest total utility out of spending a given budget on various goods B. The highest marginal utility out of spending a given budget on various goods C. Equal marginal utility values from each product consumed D. Equal total utility values from each product consumed