Which of the following is not one of the four main categories of spending identified by John Maynard Keynes?
A) government purchases B) transfer payments
C) planned investment D) consumption
B
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"Less demand causes lower prices, and lower prices cause more demand." The above statement shows
A) economic theory can be used to prove just about anything. B) everything depends on everything else. C) prices fluctuate in a free-market situation. D) the speaker has confused himself by saying demand in the first half of the statement when he meant quantity demanded. E) the speaker has confused himself by saying demand in the second half of the statement when he meant quantity demanded.
What is a convertible currency?
What will be an ideal response?
Explain the difference between general grants and categorical grants. Under what circumstance will they have the same impact? In that case, will one have an advantage over the other?
What will be an ideal response?
A price-taking firm will tend to expand its output as long as price exceeds average variable cost and: a. its marginal revenue is positive
b. its marginal revenue is greater than the market price. c. its marginal revenue is less than the market price. d. its marginal cost is less than the market price.