What is the most likely effect of deregulation on the supply curve?
a. The supply curve will shift to the left
b. The quantity supplied will reduce
c. The supply curve will shift to the right
d. The supply curve will not be effected
c
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Which of the following firms has unlimited liability?
A) only proprietorships B) only partnerships C) only corporations D) both proprietorships and partnerships
Real capital income is given by ________
A) MPK × K B) capital share of income × output per unit of capital × capital C) capital share of income × output D) all of the above E) none of the above
Classical economists believed that
a. the market system always operated at a position of full employment. b. occasional problems of unemployment could occur but would be quickly eliminated by the system of self-regulating markets. c. the price level would adjust to balance planned saving with planned investment. d. the economy had several possible equilibrium output levels.
Which of the following is not a result of a higher federal budget deficit?
A) a higher real interest rate B) a depreciation of the currency C) a fall in exports D) a fall in the price of foreign inputs