If planned injections exceed leakages, output will
A. decrease.
B. remain constant.
C. increase.
D. either increase or decrease.
Answer: C
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If the price of TVs produced by XYZ-TV Company falls from $1,000 to $750 per TV set, then the:
A. supply of labor to the XYZ-TV Company increases. B. demand for labor by the XYZ-TV Company increases. C. supply of labor to the XYZ-TV Company decreases. D. demand for labor by the XYZ-TV Company decreases.
Into what two effects can we divide the effect of a price change?
What will be an ideal response?
Economists generally do not agree to limit the private and voluntary actions of people, but, in the case of gambling, economists will admit that gambling
A. can be addictive, so regulation could be justified for that reason. B. is immoral, so it must be prohibited. C. teaches people about statistics. D. has external benefits, so it must be subsidized.
In general, for any two countries, there are many exchange rates that will lead to gains from trade, based on comparative advantage.
Answer the following statement true (T) or false (F)