This led to a wide-ranging, and continuing, debate over the best way for government to respond to the recession and its aftermath.
What will be an ideal response?
An immediate response put in place by the Obama administration in 2009 was a policy of economic stimulus through expanded government spending and tax cuts.
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Economic profit is the difference between total revenue and
A) the normal profit. B) interest costs of production. C) opportunity costs of production. D) the costs of resources bought in markets.
Which type of graph is used to identify trends?
A) time-series B) scatter diagram C) cross-section D) None of the above answers is correct.
The marginal revenue product of capital is not the
a. change in total revenue when one more unit of labor is hired b. change in total revenue that results from adding one more unit of loanable funds to production c. marginal contribution of capital to total revenue d. firm's demand for capital curve e. marginal physical product of capital multiplied by the price of the good
As one moves down a straight-line demand curve away from the vertical axis, demand becomes less elastic and then inelastic
a. True b. False Indicate whether the statement is true or false