Aggregate output is ________ related to autonomous consumer expenditure, and is ________ related to the level of taxes
A) negatively; negatively
B) negatively; positively
C) positively; negatively
D) positively; positively
C
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In peak-load pricing, once capacity is reached, the firm's short-run marginal cost curve becomes ________.
A) negative B) vertical C) horizontal D) upward sloping
If parties to a contract can anticipate the court's decision in the event of a dispute with some degree of certainty:
a. opportunistic behavior will never be detected. b. opportunistic behavior will be partially detected. c. there will be less room for opportunism. d. only one of the parties will be able to act opportunistically.
The diagram above illustrates the pattern of:
Business cycles Economic growth patterns Wage movements over time Price level movements
Which of the following statements about economic resources is false?
A) Economic resources include financial capital and money. B) Economic resources are also called factors of production. C) Economic resources are used to produce goods and services. D) Some economic resources are human-made while others are found in nature.