The argument of Keynesian macroeconomic policy is that ______________ need(s) to spend when times are hard and save when times are good for the sake of the overall economy.
a. individuals
b. the government
c. states
d. companies
b. the government
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The production possibilities frontier is a boundary that separates
A) fair combinations of goods and services that can be consumed from unfair ones. B) the combinations of goods that can be produced from the combinations of services. C) attainable combinations of goods and services that can be produced from unattainable ones. D) affordable production points from unaffordable points. E) equitable combinations of goods and services that can be produced from inequitable ones.
Of the four countries below, the country that has the most income equality is
a. Ethiopia. b. France. c. Russia. d. Thailand.
If Britain, at the point where it is currently producing, must give up the production of 75 hats to produce 25 additional sweaters, the opportunity cost of producing 4 sweaters is _______ hats.
A) 4 B) 12 C) 71 D) 79
What is the major difference between the long run and the short run in pure competition? Explain in terms of the number of firms and the flexibility of firms
What will be an ideal response?