In the goods market equilibrium condition for a closed economy, the total demand for goods equals
A. Cd + G - Id.
B. Cd + Id.
C. Cd + Id - G.
D. Cd + Id + G.
Answer: D
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Industries in which firms have high fixed costs and low marginal costs are likely to have a:
A. large number of small firms. B. large number of large firms. C. small number of small firms. D. small number of large firms.
The National Football League has long-term leases with the stadiums in major cities. Control of these stadiums is an entry barrier to a potential new football league
Indicate whether the statement is true or false
The aggregate demand curve is Y = 75 - 3?, and the short-run aggregate supply curve is ? = 6.2 + 0.8(Y - 70). Assuming adaptive expectations, calculate the inflation rate and output for the next period
What will be an ideal response?
The subject matter of public economics falls into the two general categories of _____ and _____
a. public interest; private interest b. coercion action; individual liberty c. revenue generation; government spending d. civilian activities; military duties