Which of these is NOT a generally accepted means of reducing risk?
A) Diversification
B) Insurance
C) Obtaining more information
D) none of the above
D
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Keynes argued that while the government should ensure that the overall level of aggregate demand is sufficient for an economy to reach full employment, the government should not attempt to set _________________.
a. export levels and wages b. wages and benefits c. prices and import levels d. prices and wages
This led to a wide-ranging, and continuing, debate over the best way for government to respond to the recession and its aftermath.
What will be an ideal response?
Consumer surplus is the difference between the most that consumers would pay and ________
a. the actual amount they do pay b. the amount they want to pay c. the actual amount it costs to produce d. none of the above
To calculate average fixed cost, divide a firm’s ______ by its ______.
a. fixed cost; total output b. variable cost; total fixed cost c. marginal cost; total output d. total cost; fixed output