A government strong enough to protect individual rights is also strong enough to violate them
a. True b. False
a
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
When the consumption schedule is plotted on a graph,
A. consumption is on the horizontal axis and disposable income is on the vertical axis. B. consumption is on the horizontal axis and saving is on the vertical axis. C. consumption is on the vertical axis and saving is on the horizontal axis. D. consumption is on the vertical axis and disposable income is on the horizontal axis.
A microeconomist might study which of the following?
a. the collapse of US financial markets in 2007-2009 b. the causes of the Great Depression c. the movements of prices for unleaded gasoline d. the role of expectations in the determination of the level of real GDP e. the trade-off between inflation and unemployment
"Economies of scope" occur when
a. fixed costs are high and marginal costs are low. b. a monopoly can produce for the entire market. c. similar production techniques can be applied to several products. d. costs are fully distributed.