When optimizing in levels, if the ________ exceeds the ________, Project A is chosen over Project B
A) marginal benefits of Project B; marginal benefits of Project A
B) net benefits of Project A; net benefits of Project B
C) total benefits of Project A; total benefits of Project B
D) marginal cost of Project A; marginal costs of Project B
B
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The above table gives real GDP and the aggregate expenditure schedule. When real GDP is $15 billion, the amount of unplanned investment is
A) $29.25 billion. B) $14.25 billion. C) $15 billion. D) $0.75 billion. E) unknown.
The term "market" refers to
A) physical structures only. B) locations where buyers and sellers physically meet. C) any arrangement that enables buyers and sellers to get information and trade with one another. D) trading arrangements that have been approved by the government.
Monetarists accept the idea that velocity is not constant; nonetheless, they believe that it is still highly:
a. constant. b. unpredictable, ill-behaved, and independent of money supply. c. unpredictable, well-behaved, and dependent of money supply. d. predictable. e. variable.
Private ownership of most of the means of production is common to
A. capitalism and communism. B. capitalism and fascism. C. capitalism and socialism. D. fascism and communism.