Unlike consumers and business firms, the public sector has no maximizing goals.
Answer the following statement true (T) or false (F)
False
The public sector's goal is welfare maximization.
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In the figure above, the number of workers employed is ________, and the wage paid is ________
A) 3,000; $7 per hour B) 7,000; $7 per hour C) 5,000; $5 per hour D) 5,000; $7 per hour E) 3,000; $5 per hour
In the Keynesian model, and expected increase in the interest rate
a. increases the demand for bonds and the demand for money. b. increases the demand for bonds and the demand for stocks. c. decreases the demand for bonds and increases the demand for money. d. increases the demand for bonds and decreases the demand for money.
Indexing Social Security payments is done using the:
A. CPI. B. PPI. C. GDP deflator. D. RPI.
If markets are perfectly competitive, then the production of goods
A) will use the least costly combination of resources. B) will occur at an average total cost value that is above the minimum. C) will require government intervention. D) will always lead to business failures.