Average real wages have not risen significantly since approximately 1973
a. True
b. False
Indicate whether the statement is true or false
True
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The idea that "supply creates its own demand" is attributed to which of the following economists?
A) Adam Smith B) David Ricardo C) A. C. Pigou D) J. B. Say
The demand for loanable funds comes from saving and the supply of loanable funds comes from investment
a. True b. False Indicate whether the statement is true or false
The literature on job displacements suggests that when a new Walmart opens with 300 workers,
A. between 45 percent and 65 percent of that number will be displaced elsewhere in the community. B. between 25 percent and 35 percent of that number will be displaced elsewhere in the community. C. between 75 percent and 133 percent of that number will be displaced elsewhere in the community. D. between 5 percent and 15 percent of that number will be displaced elsewhere in the community.
A condition in which no change is possible that will make some members of society better off without making some other members of society worse off is called
A. general equilibrium. B. partial equilibrium. C. market failure. D. Pareto optimality.