In the diagram of the decision tree, what lies at the bottom, the roots?
a. The basic decision
b. The alternatives
c. Resources
d. Values
D
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In the above table, the cross price elasticity of demand (using averages) for Z with good X, when PX increases from $12 to $15, is approximately equal to
A) +1.03 B) +2.26. C) +0.44. D) -0.44.
Which of the following are equivalent terms?
a. The absence of structural unemployment and the absence of cyclical unemployment b. Normal employment and the absence of structural unemployment c. Full employment and the absence of cyclical unemployment d. Normal employment and the absence of frictional unemployment e. Null employment and the absence of frictional unemployment.
Critics of supply-side economics argue that tax cuts favored by supply-siders will have the greatest effect on
a. aggregate supply. b. tax receipts. c. aggregate demand. d. the money supply.
The equilibrium level of GDP is the level at which
A. aggregate demand exceeds output. B. aggregate demand equals output. C. aggregate demand is less than output. D. inventories are being depleted to meet demand.