If private investment had held up as well as consumption did, the economic contraction from 1929 to 1933 would have been less severe than it was
Indicate whether the statement is true or false
False
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A horizontal demand curve is perfectly elastic because a change in price will induce an infinite change in quantity demanded.
Answer the following statement true (T) or false (F)
As long as marginal cost is less than average variable cost:
a. both average total costs and average variable costs will be falling. b. average total costs will be falling but average costs may be rising or falling. c. average fixed costs are rising. d. average total costs are falling but average fixed costs may be rising.
Other things being equal, the quantity of money that people wish to hold in currency and their checking accounts can be expected to:
a. increase as the interest rate increases. b. decrease as the interest rate increases. c. decrease as real GDP increases. d. none of these.
Individual income taxes and social insurance taxes generate the highest tax revenue for the federal government
a. True b. False Indicate whether the statement is true or false