John Maynard Keynes noted that
A. we could print all the money we want and still have scarcity.
B. "to secure the greatest amount of pleasure with the least possible outlay should be the aim of all economic effort."
C. the general notion that scarcity is due to not having enough money is an illusion.
D. we could print all the money we want and still have scarcity AND the general notion that scarcity is due to not having enough money is an illusion.
D. we could print all the money we want and still have scarcity AND the general notion that scarcity is due to not having enough money is an illusion.
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Refer to Figure 18.1. After trade begins, ________ will specialize in the production of bicycles and ________ will specialize in the production of hang gliders
A) the United States; Canada B) the United States.; the United States C) Canada; Canada D) Canada; the United States
How are rule-based policies similar to adaptive expectations?
What will be an ideal response?
Suppose a state discovered chemical compounds in their water. The source of these chemicals is the waste discharges of industrial plants in another state. This is an example of a(n):
a. market failure where the market price of the output of these industrial plants does not fully reflect the social cost of producing these goods. b. external cost imposed by the industrial plants of another state. c. externality where the marginal social costs of producing these industrial goods differ from the marginal private costs. d. all of these.
The account that records a nation's economic transactions with other countries is
a. the current account b. the international monetary fund c. the foreign exchange market d. the balance of payments e. the capital account