Which of the following supports the classical theory of employment?
A. The interest rate will not always equalize savings and investment.
B. Not everything produced will necessarily be purchased.
C. Saving and investing are done by different people for different reasons.
D. Wages and prices are flexible downwards.
D. Wages and prices are flexible downwards.
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All points above a given indifference curve are
A) inferior to any point on the indifference curve. B) preferred to any point on the indifference curve. C) definitely not affordable. D) Both answers Band C are correct.
A possible problem of democracy
A) is moral hazard. B) is protected property rights. C) is mob rule. D) none of these choices is a problem.
Microeconomics is best described as the study of
A. how markets interact in the aggregate economy. B. marginal changes in the economy. C. the choices made by individual households, firms, and governments. D. inflation, unemployment, gross national product, and the nation's economy as a whole.
Institutions that channel funds from people who have them to people who want them are called:
A. governmental agency. B. financial intermediaries. C. corporations. D. the Federal Reserve.