The effect of a tax multiplier on aggregate demand is larger than that of the government spending multiplier
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements about positive economic analysis is false?
A) There is much more disagreement among economists over normative economic analysis than over positive economic analysis. B) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions. C) Unlike normative economic analysis, positive economic analysis can be tested. D) There is much more disagreement among economists over positive economic analysis than over normative economic analysis.
Which of the following is not an upper-middle income country?
a. Brazil b. South Africa c. Pakistan d. Argentina
Firms that continue to produce when sales are temporarily low in an effort to avoid costly fluctuations in production are engaging in ________
A) second degree price discrimination B) stock out avoidance C) work in progress D) production smoothing
Given the production function Q = 21X + 9X2 - X3, where Q = Output, and X = Input
a. At what value of X does Stage II of the production function begin? b. At what value of X does Stage III of the production function begin? c. At what value of X does diminishing returns set in?