________ economists believe that active help from fiscal and monetary policy is needed to insure that the economy is operating at full employment
A) Keynesian
B) Monetarist
C) Classical
D) All
A
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A firm sells 20 units of a good at a price of $5 per unit. If the average cost of production of the good equals $3 per unit, the firm's revenue is:
A) $40. B) $60. C) $100. D) $120.
The gains from trade rely on overall productivity (absolute advantage)
Indicate whether the statement is true or false
The marginal principle implies that an individual should produce or consume where
A) marginal benefit is less than marginal cost. B) marginal benefit exceeds marginal cost. C) marginal benefit equals marginal cost. D) total benefit equals total cost.
George purchased a $10,000 bond that pays a nominal interest rate of 8 percent per year. George's marginal income tax rate is 28 percent. Over the last year, inflation was 3 percent
Find George's before-tax real interest rate and his after-tax real interest rate.