The "trickle down" theory is based on the notion of multiplier effects
Indicate whether the statement is true or false
T
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When consumers would have been willing to pay higher prices at various quantities consumed than the market clearing price, the differences are called
A) consumer surplus. B) monopoly profits. C) opportunity cost. D) deadweight loss.
What condition must be met in order for total spending to equal total output?
a. The sum of saving and government purchases must equal the sum of planned investment and net taxes. b. The sum of saving and net taxes must equal the sum of planned investment and government purchases. c. The sum of saving and planned investment must equal the sum of government purchases and net taxes. d. Saving must equal net taxes. e. The sum of saving and net taxes must equal planned investment minus government purchases.
Frank is given the choice between pizza and hotdogs and chooses pizza. Then, before serving him, his host tells Franks he could have a hamburger. Frank says he wants a hot dog. Which of the properties of Arrow's impossibility theorem does Frank violate?
A firm that buys inputs from outside sources is said to ________
a. vertically integrate b. outsource c. create economies of scope d. create hidden characteristics