To economists, rational self-interest is the same as selfishness.
Indicate whether the statement is true or false.
Ans: False.
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Use the following graph to answer the next question.
In the diagram, Qf is the full-employment output. If the economy's current aggregate demand curve is AD0, it would be appropriate for the government to
A. reduce unemployment compensation benefits. B. reduce government purchases or increase taxes. C. increase government purchases or reduce taxes. D. reduce government purchases and taxes by equal-size amounts.
Refer to Figure 10.2. Assume the economy is initially at equilibrium at potential GDP of $500 billion. If the MPC = 0.80 , and real GDP falls to Y2 = $400 billion, the vertical distance between AE1 and AE2 must be
A) $8 billion. B) $20 billion. C) $80 billion. D) $100 billion.
In economics, money is an example of capital
a. True b. False
What effect does new technology usually have on an economy?
What will be an ideal response?