New classical economics assumes that government has direct control over the equilibrium level of GDP and indirect control over the money supply
a. True
b. False
Indicate whether the statement is true or false
False
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The quantity demanded of a good is:
A) the amount of a good that sellers are willing to supply at a given market price. B) determined independent of the market price. C) always determined by government intervention. D) the amount of a good that buyers are willing to purchase at a given market price.
One way a company can cover its costs and, at the same time, obey a marginal cost pricing rule is by
A) choosing output levels according to the profit-maximizing rule. B) using price discrimination. C) increasing production. D) decreasing production. E) decreasing its marginal cost but not changing its average total cost.
The principal-agent problem is the issue of inducing
A) agents and principals to work hard. B) principals to act in the best interests of agents. C) agents to act in the best interests of principals. D) None of the above answers is correct.
Leontief's results were considered paradoxical because the United States was believed to be
A) technologically efficient relative to the rest of the world. B) capital abundant relative to the rest of the world. C) labor abundant relative to the rest of the world. D) All of the above.