There is an indifference curve through every bundle because of the assumption of
A) transitivity.
B) completeness.
C) rationality.
D) nonsatiation.
B
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Evidence in favor the Keynesian model would be that:
a. investment is not sensitive to changes in tax rates. b. labor supply is inelastic. c. the aggregate price level is positively correlated with income. d. all of the above. e. none of the above.
The Darby (1976) revisions of the 1930s unemployment data show that if you count public employment, then the 1930s were not especially severe by historical standards
Indicate whether the statement is true or false
From 1860 to 1910,
(a) The total population grew faster than the workforce. (b) National income grew faster than did total population. (c) The workday increased. (d) Foreign investment in the U.S. dropped continuously.
The difference between a private good and a public good is that
A) private goods are government-sponsored goods while public goods are government-inhibited goods. B) externalities are always created in the production process but not in the production of public goods. C) private goods make us happy while public goods do not. D) the exclusion principle applies to a private good but not to a public good.