Given the following data, what is the distance from the origin to the point where the total expenditures (TE) curve cuts the vertical axis? C = $400 + 0.75Yd I = $120 G = $270
A) $670
B) $790.75
C) $790
D) $400
E) ?$390
C
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The Keynesian approach assumes that
A) the economy is self-regulating. B) there is no unemployment in the economy. C) the price level is fixed. D) the government budget is always in deficit.
A side effect of a price floor set above the equilibrium price is:
a. the new price is below equilibrium price. b. an excess supply of the good is created. c. an excess demand for the good is created. d. the supply of the good decreases. e. the demand for the good increases.
Gold and silver have historically been the most common form of commodity money
a. True b. False Indicate whether the statement is true or false
Store clerks are known to have low wages. This is likely to reflect the fact that
a. store clerk jobs are perceived to be relatively easy, thus attracting low-skill workers. b. store clerk jobs are perceived to be relatively difficult, thus attracting high-skill workers. c. many people perceive the job of store clerk as having significant risk of death on the job. d. store clerks are required to have a college degree.