More buyer power means
a. Buyers would find it easier to capture the value created
b. Buyers would find it more difficult to capture the value created
c. Buyers would not be able to capture any value created
d. None of the above
a
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According to Adam Smith, what is the primary source of a nation's wealth?
a. The amount of gold and silver in the government's possession. b. A spirit of cooperation in which people share according to their means. c. Strong central planning authorities. d. The people's ability to produce products and trade in free markets.
One advantage of ______________ is being able to set the industry standard.
A. being established B. legal barriers C. economies of scale D. None of the choices are correct.
According to the Lucas supply function, ________ will have an effect on real output.
A. only announced policy changes B. only unanticipated fiscal policy changes C. only unanticipated monetary policy changes D. any unanticipated policy changes
When PAE decreases then the economy will move towards:
A. lower levels of equilibrium GDP. B. higher levels of equilibrium GDP. C. constant levels of GDP. D. higher levels of equilibrium aggregate expenditure.