The idea that less government regulation will lower the cost of production, increase profit, and raise the level of production so that, in the end, real GDP will increase is held by the
a. classical school
b. Keynesian school
c. rational expectations school
d. school of supply-side economics
e. neo-Keynesian school
D
You might also like to view...
If grocery stores in high-crime areas charge higher prices than stores elsewhere, it is because
A) each item sold must bear its share of the higher insurance costs. B) residents of high crime areas tend to be less price-conscious shoppers. C) the costs of crime are a legitimate cost of doing business. D) the store owners are not setting marginal cost equal to marginal revenue. E) there is less competition between stores in high-crime areas.
Jake can wash 6 cars or mow 3 lawns during the same time. His marginal cost of washing a car is:
a. mowing one-third lawn. b. mowing half a lawn. c. mowing one lawn. d. mowing 2 lawns.
Two stage least squares estimation cannot be applied to a panel data set.?
Answer the following statement true (T) or false (F)
What is meant by fixed cost? What kinds of things might be included in fixed cost?
What will be an ideal response?