One disadvantage of discretionary fiscal policy is that it can return the economy to its potential level of output, but at the cost of increasing the price level
a. True
b. False
Indicate whether the statement is true or false
True
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If a company could spend $3 per bicycle on a safety device that would prevent $2,000 worth of harm for every 1,000 bicycles sold, spending the $3 would be a cost-justified precaution
Indicate whether the statement is true or false
Refer to the figure above. The consumer surplus before the tax is imposed is given by the area ________
A) BCJ B) BAH C) CAE D) JBHF
A patent grants
A) a guarantee of quality to consumers. B) the right to practice a profession. C) an exclusive right to an inventor of a product. D) control over a unique source or supply of raw materials.
The idea that rational employers think at the margin is central to understanding how many units of labor they choose to employ
a. True b. False Indicate whether the statement is true or false