In a market economy, persons undertaking an investment project must
A) get the approval of several banks before the project can be undertaken.
B) obtain approval from political authorities before the project can be undertaken.
C) either personally supply the required funds or convince other investors to do so.
D) use a corporation as a form of business organization.
C) either personally supply the required funds or convince other investors to do so.
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Assume that the full-employment level of output is $500, and the price level associated with full-employment output is 100. Also assume that the economy's current level of output is $450 and at the price level of 100 current aggregate demand is $410. If the government wants to move the economy back to the full-employment level of output and the MPC is 0.75, then it should
A. reduce taxes by $30. B. increase taxes by $30. C. reduce taxes by $90. D. increase taxes by $90.
Within the aggregate demand/aggregate supply framework, the quantity produced and purchased in the goods and services market represents
What will be an ideal response?
Karl Marx said that whoever controlled a society's __________ controlled that society.
Fill in the blank(s) with the appropriate word(s).
The production possibilities curve for two products is bowed out because
A. the qualities of the resources are not identical. B. there are unemployed resources. C. as the production of a good increases, opportunity cost is unchanged. D. as the production of a good increases, opportunity cost increases.