Classical economists tend to
A) support Say's law.
B) see unemployment as a persistent economic problem.
C) reject the equality of savings and investment.
D) believe in Keynesian economics.
A
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During a mild winter, the price of home heating oil is expected to be less than it would be during a normal winter
What will be an ideal response?
Suppose Cournot duopolist firms operate with each having a cost of 30qi (i = 1,2 ) so that each firm's marginal cost is 30. The inverse market demand curve is P = 120 - Q where Q = q1 + q2
Suppose there were no barriers to entry and firms continued to enter so long as there were positive economic profits. At the Nash-Cournot equilibrium, the price, P, is A) 30. B) 45. C) 60. D) 90.
When a country runs a deficit in its current account, the amount of foreign exchange that the country gets from exporting goods and services and from receipts of unilateral transfers falls short of the amount needed to pay for its imports and to make unilateral transfers. Where does the additional foreign exchange come from?
a. From domestic citizens who purchase foreign goods and services b. From domestic citizens who invest in production facilities, real estate, or financial assets in foreign countries c. From foreigners who invest in domestic production facilities, real estate, or financial assets, and from official government transactions in foreign currency d. From government who buy bonds and stocks from foreigners
A country who has a trade deficit:
A. sells more goods at home than it sells abroad. B. imports less than it exports. C. requires more trade in order to solve a budgetary deficit. D. has a negative trade balance.