Keynesian economists argue that
A. prices and wages depend on minimum wage law.
B. prices and wages are flexible.
C. prices and wages are subject to downward "stickiness."
D. prices and wages must be set by government.
Answer: C
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If the price of a good decreases, the resulting increase in the quantity purchased decreases the marginal utility of the good
a. True b. False Indicate whether the statement is true or false
Uncoordinated decisions in perfect competition lead to mass confusion and inefficiency
a. True b. False Indicate whether the statement is true or false
An uninsurable risk is one
a. where everyone wishes to bet on the same outcome. b. in which information is asymmetrically distributed. c. for which the odds of an event's occurrence cannot be accurately estimated. d. that cannot be diversified.
Which of the following is true?
A) In the long run, corporate bonds can be expected to yield a higher real rate of return than ownership of stocks. B) The risk of stock market investments can be reduced through the holding of a diverse portfolio of unrelated stocks over long periods of time. C) Stock market investors can reduce their risk if they hold shares of specific stocks for only short periods of time. D) People who invest in the stock market are virtually certain to make money.