Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it would probably make the business cycle more volatile
a. True
b. False
Indicate whether the statement is true or false
True
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To increase their individual profits, members of a cartel have an incentive to
a. charge a higher price than the other members of the cartel. b. increase production above the level agreed upon. c. ignore the choices made by the other firms and act as a monopolist. d. charge the same price a monopolist would charge.
In the Keynesian-cross model, a decrease in the interest rate ______ planned investment spending and ______ the equilibrium level of income.
Fill in the blank(s) with the appropriate word(s).
Explain why being a residual claimant can increase the risk from owning stocks.
What will be an ideal response?
The primary objective of economics is
A. to study how people make choices with limited resources. B. to study why some people are never happy with the resources they have. C. to learn how to create more resources. D. to learn how to make the most profits with a given amount of resources.