The classical theory states that
a. demand is generally greater than supply.
b. supply creates its own demand.
c. supply is generally greater than demand.
d. prices and interest rates are always stable.
b. supply creates its own demand.
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Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?
a. Do not be provoked b. Do not be easily provoked c. Be easily provoked d. All of the above
Households purchase goods and services in the
a. market resource b. labor market c. capital market d. product market e. circular market
Profit maximizing (or loss minimizing) level of output
A. is OR.
B. is OS.
C. is OT.
D. None of the choices are correct.
According to the law of increasing costs, as a textile company spends more money to eliminate dust particles from the workplace to increase worker safety
A. the cost of reducing 70 percent of the dust in the factory will be the same as the cost of reducing the first 50 percent of the dust in the factory. B. the cost of reducing 70 percent of the dust in the factory will be less than the cost of reducing the first 50 percent of the dust in the factory. C. the cost of reducing 70 percent of the dust in the factory will be greater than the cost of reducing the first 50 percent of the dust in the factory.