Public saving is the difference between _____ and _____
Fill in the blank(s) with correct word
tax revenue, government purchases
government purchases, tax revenue
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Say's law
A) explains the role of money. B) deals with interest rates, employment, and production. C) was accepted and praised by John Maynard Keynes. D) None of the above.
Grace just got her first cell phone, an iPhone, for graduation. She tosses her iTouch in a drawer and never touches it again, even though she could easily sell it for $75 on Craigslist. Grace's choice is ___________ because ________________.
A. rational; she weighs the $200 she paid for the iTouch and the $75 she could sell it for now B. irrational; she weighs the $200 she paid for the iTouch and the $75 she could sell it for now C. rational; she would not pay $75 to buy the iTouch today D. irrational; she would not pay $75 to buy the iTouch today
Harold Brown runs a company that sells encyclopedia sets for $250 each. When he employs 10 workers, they can sell 60 sets per week, while only 54 sets are sold when 9 workers are employed. What is the weekly marginal revenue product of the tenth worker?
a. $250. b. $1,250. c. $1,500. d. $15,000.
If a product has an inelastic demand, then:
a. there is probably a long time period under consideration. b. as price increases, total revenue to producers decreases. c. an increase in the price will decrease total consumer expenditures. d. there are probably many complements for the good. e. there are probably few substitutes for the good.