A good that is excludable is one that someone can be prevented from using if she did not pay for it
a. True
b. False
Indicate whether the statement is true or false
True
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When real GDP is in equilibrium with no government and no international trade
A) real planned investment spending equals real planned saving. B) real planned investment equals real planned consumption spending. C) unplanned inventories are increasing. D) unplanned inventories are decreasing.
By 1825, which area in the New World had the greatest portion of slaves?
a. Spanish colonies b. The West Indies c. The United States d. Brazil
Reserves decrease if the Federal Reserve
a. raises the discount rate or auctions more credit. b. raises the discount rate but not if it auctions more credit. c. lowers the discount rate or auctions more credit. d. lowers the discount rate but not if it auctions more credit.
The major difference between the Keynesian model and the classical theory of employment is that
A. the interest rate will not always equalize savings and investment. B. not everything produced will necessarily be purchased. C. saving and investing are done by different people for different reasons. D. wages and prices are assumed to be flexible downwards.