one of the four main categories of spending identified by John Maynard Keynes is net exports
a. true
b. false
a. true
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Equating society's marginal benefits with marginal costs will ensure that the economically efficient level of either private or public goods is attained
Indicate whether the statement is true or false
What does making decisions "at the margin" mean?
a. that people evaluate how easily a decision can be reversed if problems arise b. that people make those decisions that do not impose a marginal cost c. that people compare the marginal costs and marginal benefits of each decision d. that people always calculate the marginal dollar costs for each decision
If, in the short run, the level of output is zero, which of the following statement is TRUE?
A. Total cost and total fixed cost graphs will begin at the origin. B. Total variable cost is zero but total cost equals total fixed cost, and both of the latter exceed zero. C. Total fixed cost will also be zero at first but will rise once output rises. D. none of these
In a free-market system, the amount of output that any one household gets depends on its
A. income. B. wealth. C. income and wealth. D. wage and interest income.