In the simple economy where y = C + I, equilibrium output is determined at the level of income where saving equals investment
Indicate whether the statement is true or false
TRUE
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Which of the following is true of a first-price sealed-bid auction?
A) Bidders directly compete with each other. B) Bidders place their bids simultaneously. C) Bidders know each other's bids. D) Bidders always bid below their willingness to pay.
Suppose 100 citizens each derive marginal benefit from submarines according to the function MB = 10 - Q. If subs cost $100 each to produce, what is the efficient quantity of submarines?
What will be an ideal response?
How many workers would the firm hire if the wage rate were $459?
The negative relationship between unemployment and inflation is known as the
A. aggregate demand curve. B. efficiency wage line. C. Phillips curve. D. aggregate supply curve.