Keynesian economists believed that economic slowdowns are self-correcting.
Answer the following statement true (T) or false (F)
False
Economics
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In economics,one of the effects of scarcity is
a) disutility. b) utility. c) choice. d) inefficiency.
Economics
Figure 10-3
In Figure 10-3, the perfectly competitive firm is realizing a
a.
loss equal to ABCE.
b.
profit equal to ABCE.
c.
profit equal to ABDF.
d.
loss equal to ABDF.
Economics
Firms pay celebrities to endorse their products because they believe this will increase the demand for these products.
a. true b. false
Economics
The saying that "You cannot have your cake and eat it too" illustrates the economic concept of
A. a positive statement. B. physical capital. C. a normative statement. D. opportunity cost.
Economics