If unplanned investment is positive, firms will ________ production and output will ________
A) cut; rise
B) cut; fall
C) increase; rise
D) increase; fall
B
Economics
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When government outlays exceed tax revenues, the situation is called a budget
A) surplus. B) deficit. C) with a negative balance. D) with no balance. E) debt.
Economics
If a perfectly competitive firm finds that it is producing an amount of output such that MR > MC and P > AVC, it will
A) leave the industry. B) decrease its output. C) increase its output. D) not change its behavior.
Economics
Both the supply and demand curves can shift due to changes in income
a. True b. False
Economics
Refer to Exhibit 6-2. How many unemployed persons are there in year 3?
a. 50 million b. 100 million c. 150 million d. 350 million e. 400 million
Economics