The funds used to purchase capital goods are called
A) investment.
B) savings.
C) financial capital.
D) dividends and interest.
Answer: C
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Refer to the payoff matrix below. Which of the following is true for Best Lights?
A) They do not have a dominant strategy.
B) Their pure strategy is to set a Low Price.
C) They do not have a pure strategy.
D) Their pure strategy is to set a High Price.
Cost-benefit principles can be applied to the decision of:
a. profit-maximizing firms. b. majority-rule voting. c. which project receives the most votes. d. rational ignorance. e. all of these.
Consumer sovereignty means that ______.
a. consumers vote with their dollars in a market economy b. governments have no power in determining which products will be made c. consumers have no obligation to pay taxes to the government d. governments must provide people with fundamental goods and services
In an aggregate demand and aggregate supply graph, an expansionary fiscal policy can be best illustrated by a:
A. leftward shift in the aggregate demand curve. B. change in the price level. C. leftward shift in the aggregate supply curve. D. rightward shift in the aggregate demand curve.