Say's law says that
A) consumption is greater than supply.
B) desired expenditures always equal actual expenditures.
C) people produce the goods they consume.
D) people consume the goods they produce.
B
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According to the Federal Reserve, household wealth in the United States fell by more than $11 trillion in 2008
Predict the effect this decrease in wealth had on the equilibrium real wage and level of employment, and use a graph to support your answer.
Economists have found that as a nation's per capita real Gross Domestic Product (GDP) increases
A) the rate of population growth declines. B) the rate of population growth experiences dramatic increases. C) there is no effect on population growth. D) the rate of population growth increases at the same rate as economic growth.
Suppose that a firm uses both labor (L) and capital (K) as inputs. The firm's long-run production function is Q = F(L,K) = 8?L?K. The firm has _____ units of capital. If the firm uses an efficient production method and hires _____ workers, it can produce _____ units of output.
A. 100; 100; 1,200 B. 100; 225; 800 C. 225; 100; 1,200 D. 225; 225; 1,000
The view that the antitrust laws need to be strongly enforced to prevent illegal business behaviors, monopolization of markets, and allocative inefficiency is known as the:
A. structuralist view of antitrust. B. behavioralist view of antitrust. C. laissez-faire perspective on antitrust. D. active antitrust perspective.