According to Keynes, the economy is inherently unstable and may get stuck in a recessionary gap
Indicate whether the statement is true or false
True
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Ceteris paribus means "Let the buyer beware."
Indicate whether the statement is true or false
To maximize its profit, a monopolistically competitive firm produces the output level at which ____
a. its price elasticity of demand equals one b. MR = MC c. ATC is minimized d. MR = AVC
A country's level of productivity determines its
a. productivity growth rate. b. rate of population growth. c. current standard of living. d. future income potential.
In sequential games, the player who moves first:
A. has a first-mover advantage only when he or she is able to make a credible threat or promise to choose a dominated strategy. B. always has a first-mover advantage. C. has a first-mover advantage only when the second mover fails to choose the dominant strategy. D. sometimes has an advantage and sometimes has a disadvantage.