Keynesian economists generally agree that unemployment is more costly than inflation
a. True
b. False
Indicate whether the statement is true or false
True
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Fiscal policy involves manipulating ________
A) the supply of money B) consumption spending C) federal subsidies and minimum wage values D) government spending and taxes
Which of the following can be thought of as a barrier to entry?
A) scale economies. B) patents. C) strategic actions by incumbent firms. D) all of the above
Price discrimination is possible only if
A. markets can be segregated. B. economies of scale exist. C. each person in the market has the same elasticity of demand. D. prices are kept secret so those paying the high price do not know that others paid less.
In considering consumers' attitudes toward fairness, which of the following have economists found to be true?
a. People are interested mainly in making themselves as well off as possible. b. People attempt to treat others fairly, even if doing so makes them worse off financially. c. People attempt to treat others fairly, but only if doing so makes them better off financially. d. People usually ignore fairness when making spending decisions.