Analysts who support the idea of a ___________ perspective applaud the weakening of the state because they see it as merely creating needless regulations that interfere with productivity.
Fill in the blank(s) with the appropriate word(s).
radical free market
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A car insurance company pays 90% of the total damage in case of an accident. This is an example of ________
A) a coinsurance B) a dividend C) a brokerage D) a subsidy
If the United States can increase its production of automobiles without decreasing its production of any other good, the United States must have been producing at a point
A) within its PPF. B) on its PPF. C) beyond its PPF. D) None of the above is correct because increasing the production of one good without decreasing the production of another good is impossible.
For Say's law to hold in a money economy,
A) funds invested must give rise to an equal amount of funds spent. B) funds saved must give rise to an equal amount of funds invested. C) funds spent must give rise to an equal amount of output produced. D) interest rates must fall when saving decreases. E) b and c
The demand for good X will be more elastic than the demand for good Y when
A. good X accounts for a larger percentage of a typical consumer's budget than good Y. B. consumers have more time to adjust to a change in the price of good X than they have time to adjust to a change in the price of good Y. C. good X has fewer substitutes than good Y. D. both b and c E. all of the above