Non-interventionists include all of the following, EXCEPT
A. new classical economists.
B. supply-side economists.
C. Keynesian economists.
D. monetarists.
C. Keynesian economists.
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As a perfectly competitive firm's output increases, its total revenue ________ and its total cost ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change; increases
Brittany provides manicures at the only salon in town. Her marginal cost is constant at $5 per client, her fixed cost is $25 per day, and she is able to do 8 manicures per day. On a given day, half of her clients are willing to pay $15 for a manicure; half are willing to pay only $10 . If she charges $15 for those willing to pay a higher price and $10 to her other clients, then her maximum daily
profit equals a. $55 b. $100 c. $60 d. $35 e. $75
The cost of servicing the debt may increase if
A. Interest rates rise. B. Deficits become smaller. C. The debt shrinks. D. The debt is held internally.
If country A has a higher opportunity cost in producing good X than does country B, then we know that
A. country B has an absolute advantage in the production of product X. B. country B has a comparative advantage in the production of product X. C. country A has an absolute advantage in the production of product X. D. country A has a comparative advantage in the production of product X.