A by-product of the acceptance of the Keynesian school was the wide approval and practice of activist government fiscal policy around the world
a. True
b. False
Indicate whether the statement is true or false
True
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In which of the following countries does health insurance not pay for most preventive care procedures?
A) Canada B) Japan C) the United Kingdom D) the United States
Which of the following ideas were central to the conclusions drawn by Thomas Malthus in his 1798 "Essay on the Principle of Population"?
A) Short-run time period B) Shortage of labor C) Law of diminishing resource availability D) Law of diminishing returns
Exhibit 3A-1 Comparison of Market Efficiency and Deadweight Loss
As shown in Exhibit 3A-1, if the market is in equilibrium, then total surplus is represented by:
A. ABEFD + EFG B. ABEC + CEFD C. CDFE + EFG D. ABEFD - BEF
The price elasticity of demand for eggs is -.27 and the price elasticity of demand for soft drinks is -.70. Therefore, the demand for eggs
A. cannot be compared to the demand for soft drinks because eggs cannot be substituted for soft drinks. B. is more elastic. C. cannot be compared to the demand for soft drinks because both are negative. D. is less elastic.