The slope of the consumption function is equal to the marginal propensity to save.
Answer the following statement true (T) or false (F)
False
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In a market economy, what specifies the terms of exchange, facilitating exchange between strangers?
A) contracts B) insurance C) patents D) accounting rules
Moving along the aggregate supply curve, when the price level rises,
A) the quantity supplied decreases. B) the quantity supplied increases. C) the aggregate demand curve shifts rightward. D) the aggregate demand curve shifts leftward. E) the quantity supplied does not change because the aggregate supply curve is a vertical line.
Research on the productivity of southern cotton plantations shows that:
a. cotton production was greater on large slave plantations than on small free-family farms. b. the majority of the South's cotton crop was grown on farm units of less than 100 acres. c. output per slave declined during the antebellum period. d. plantation-style agriculture was inefficient. e. All of the above.
Ronald Coase argued that firms exist due to the presence of
A) transfer costs. B) unions. C) transactions costs. D) easy market transactions.