A human resource such as ingenuity can be thought of as
A. a causal factor for aggregate supply shifting left.
B. part of a country's endowment.
C. the outcome of more investment spending.
D. part of government spending programs.
Answer: B
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In a modern mixed economy, who decides what goods and services will be produced?
A) only the producers B) only the government C) only consumers D) all of the above
A firm's production function is the relationship between:
A) the inputs employed by the firm and the resulting costs of production. B) the factors of production and the resulting outputs of the production process. C) the demand for a firm's output and the quantity it is able to produce with available resources. D) the firm's production costs and the amount of revenue it receives from the sale of its output.
If autonomous consumption is $5,000 . the MPC is 0.7, net taxes are $2,000 . investment spending is $4,000 . and government purchases equal $2,500, and NX = $0, what is equilibrium GDP?
a. $14,428.6 b. $33,666.7 c. $40,800 d. $43,000 e. $45,000
which of the following will most likely occur under a system of clearly defined and enforced private property rights
What will be an ideal response?