The American economy is ________ economy in the world today.
A. the largest and the fastest growing
B. neither the largest nor the fastest growing
C. the largest, but not the fastest growing
D. the fastest growing, but not the largest
C. the largest, but not the fastest growing
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Five possibilities are equally likely and have payoffs of $2, $4, $6, $8, and $10 . The expected value is:
a. $4 b. $5 c. $6 d. $7
Competitive firms can earn positive profits in the
a. Long run only b. Long run and the short run c. Short run only d. All of the above
As long as the market sets prices above marginal costs, production will be efficient
a. True b. False Indicate whether the statement is true or false
Most economists seem to agree that cutting taxes
a. on saving has more impact than cutting taxes to increase investment. b. to stimulate investment is more effective than cutting taxes to stimulate work. c. to increase work is more effective than cutting taxes to stimulate investment. d. to increase work incentives is more effective than cutting taxes on saving.