Taxes are not considered a leakage because they become transfers in the circular flow of income and spending model.
Answer the following statement true (T) or false (F)
False
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The price of good A goes up. As a result, the demand for good B shifts to the left. From this we can infer that:
A) good A is used to produce good B. B) good B is used to produce good A. C) goods A and B are substitutes. D) goods A and B are complements. E) none of the above
If the firm learns that the complicated technology can be made more stable with a few tweaks increasing the price to 15.5 million and increasing the probability of a launch to 50%. Given the new costs and probabilities of launch for the complicated software, which technology would the firm rather invest in now?
a. The simple voice-activated software b. The complicated thought-activated software c. Neither of the software d. Need more information
Limits to self-interested payoff maximization that have been studied by behavioral economists include
a. limited cognitive ability. b. limited willpower. c. limits to self interest. d. all of the above.
A relatively mild period of falling incomes and rising unemployment is called a(n)
a. depression. b. recession. c. expansion. d. business cycle.