Since World War II, the size of the U.S. national debt relative to income
a. increased continuously.
b. decreased continuously.
c. increased and then decreased.
d. decreased and then increased.
d. decreased and then increased.
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Explain why tariffs are a primary revenue source for less-developed countries but not for developed countries
What will be an ideal response?
If an industry has constant marginal and average costs, any shift in demand will eventually
A) result in a higher equilibrium price. B) be met by a smaller change in quantity supplied. C) be met by an equal change in quantity supplied, and equilibrium price will not change. D) make economic profits zero in the short run.
Which economist argued that free markets unleashed the "animal spirits" of entrepreneurs, propelling innovation, technology, and growth?
A. Irving Fisher. B. Lord Kelvin. C. John Maynard Keynes. D. Kenneth Olsen.
A company that explicitly takes on a social mission in addition to profit-seeking is considered a:
A. nonprofit organization. B. social welfare organization. C. benefit corporation or L3C (low profit limited liability company). D. social partnership.