According to John Maynard Keynes,
A) Say's Law is always correct.
B) prices and wages move up and down freely.
C) effective demand determines real GDP.
D) a free market economy automatically finds equilibrium at full employment.
E) supply creates its own demand.
C
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Use the following data to answer the next question.OutputATC-AATC-BATC-C10$6$13$442059353046274054205073146010411701458801976902510510032167The letters A, B, and C designate three successively larger plant sizes. In the long run, the firm should use plant size "C" for the production of
A. all possible levels of output. B. 80 to 100 units of output. C. 10 to 30 units of output. D. 40 to 70 units of output.
The basic difference between a public bureau and a market firm is that the bureau
a. has an incentive to maximize profits b. has no incentive to minimize costs c. managers do not attempt to maximize their self interest d. managers are more likely to be concerned with the public interest than their own self interest e. faces a budget constraint placed up it by the voters
The Fed, when operating efficiently, is able to control both the money supply and the interest rate at the same time
Indicate whether the statement is true or false
Economic discrimination and prejudice
A. are synonymous. B. must both exist in statistical discrimination. C. often occur together. D. are mutually exclusive.