Factories, production equipment, and machinery refer to a nation’s
A. equity.
B. human capital.
C. capital.
D. savings and investments.
Answer: C
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Classical theory assumes: a. Say's Law
b. flexible prices. c. flexible wages. d. flexible interest rates. e. All of the above answers are correct.
If a positive permanent supply shock were to occur, the resulting equilibrium would be a:
A. higher level of output at lower prices. B. lower level of output and prices. C. higher level of output and prices. D. lower level of output at higher prices.
Fill in the table. Assume the fixed cost is $300.
If there is no Ricardo-Barro effect, a government budget surplus ________ the supply of loanable funds and ________ equilibrium investment
A) decreases; increases B) increases; increases C) increases; decreases D) does not change; does not change E) decreases; decreases