When examining the causes of unemployment, Keynes focused on
A) financial markets.
B) inflationary expectations.
C) changes in technology.
D) aggregate demand.
D
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"Duty-free" shops in airports and on international boats sell merchandise that can be brought into the country without which of the following?
(A) Restrictions on resale (B) Political embargoes (C) Import tariffs (D) Restrictions on quantity
Exhibit 7-13 Price and cost per unit curves
?
In Exhibit 7-13, if the price is P3, the firm will
A. produce Q3 and earn an economic profit. B. produce Q3 and incur a loss in the short run. C. produce Q3 and earn zero economic profit. D. decide not to produce any output to minimize the loss.
The balance-sheet channel of monetary policy works because it can:
A. change the value of a borrower's assets and liabilities, but it can't change a borrower's net worth. B. increase a borrower's asset value but not the burden of his/her liabilities. C. increase a borrower's assets and reduce the cost of his/her liabilities. D. none of the answers given is correct.
Creative destruction theory is essentially an argument that profit potential within a noncompetitive industry creates an incentive for new types of competing industry, thereby strengthening the original industry's market power
Indicate whether the statement is true or false