Exogenous changes in spending refer to changes in planned spending:
A. caused by changes in output.
B. caused by changes in the inflation rate.
C. not caused by changes in output or changes in the inflation rate.
D. caused by changes in the real interest rate.
Answer: C
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According to the Weak Coase Theorem, in the absence of transactions costs, the assignment of property rights has no effect on
a. damages paid by liable parties. b. the distribution of income. c. the allocation of resources. d. economic efficiency.
Efficiency wages will raise the quantity of labor supplied to the market
a. True b. False Indicate whether the statement is true or false
Patent and copyright laws
a. encourage creative activity. b. promote competition among firms. c. discourage creative activity. d. Both a and b are correct.
In the United States in 1929, ________ people were unemployed.
A. 250,000 B. 1.5 million C. 13 million D. 51 million