Which of the following statements is correct about neoclassical economists?
a. Neoclassical economists emphasize Say’s law, which holds that supply creates its own demand.
b. Neoclassical economists emphasize Keynes’ law, which holds that supply creates its own demand.
c. Neoclassical economists emphasize Say’s law, which holds that demand creates its own supply.
d. Neoclassical economists emphasize Keynes’ law, which holds that demand creates its own supply.
a. Neoclassical economists emphasize Say’s law, which holds that supply creates its own demand.
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A cash withdrawal reduces deposits, reserves, and excess reserves in the banking system
Indicate whether the statement is true or false
After the price of smartphone apps falls, Justin buys fewer flash drives but he buys a new smartphone. For Justin
A) smartphone apps and flash drives are complements, and smartphone apps and smartphones are substitutes. B) smartphone apps, flash drives, and smartphones are all complements. C) smartphone apps and flash drives are substitutes, and smartphone apps and smartphones are complements. D) smartphone apps, flash drives, and smartphones are not all complements.
What is the 4-firm concentration ratio of an industry with 25 firms each having an equal market share?
a. .16. b. .24. c. .20. d. .12.
When the tax structure of a nation is progressive, as incomes increase, the tax rate:
a. declines. b. remains the same. c. increases. d. is proportional.