In cases of natural monopolies, society would be better off with many firms competing with each other
a. True
b. False
Indicate whether the statement is true or false
False
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In the Keynesian cross diagram, an increase in investment spending because companies become more optimistic about investment profitability causes the aggregate demand function to shift ________, the equilibrium level of aggregate output to rise, and
the IS curve to shift to the ________, everything else held constant. A) up; left B) up; right C) down; left D) down; right
What are the various time lags that affect discretionary fiscal policy, and what are their effects?
What will be an ideal response?
Just as resources are scarce for the individual,
a. they are also scarce for the economy as a whole b. they are never scarce for the economy as a whole c. they are randomly abundant for other individuals d. there will be zero resources available for the economy as a whole e. the economy a whole is never faced with having to make rational choices about using resources
"A positive economic statement is always true and a normative economic statement is always false." Do you agree or disagree with this statement? Explain
What will be an ideal response?